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Q. Development of Skilled Labour - External Economies?
As the industry grows training facilities for labour will increase. This helps development of skilled labour that would increase the productivity of workers in the firms.
Growth of Subsidiary and Ancillary Industries: Expansion of an industry can facilitate the growth of subsidiary and ancillary industries to produceequipments, tools and machines etc. and to provide them to main industry at the lower prices. Similarly firms can also come up to transform the waste of the industry into some useful products. This tends to decrease the cost of production.
The concept of point elasticity is applicable where change in price and the resulting change in quantity are infinite or small. Though, where change in price and consequent hunger
POPULATION SIZE AND DEMOGRAPHIC TRENDS a. Changes in Population The people of a country are its consumers. They provide the labour force for production. A study of
DETERMINANTS OF MONEY SUPPLY The total supply of nominal money in the economy is determined by the joint behaviour of the central bank which controls the total issue of the hig
FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS WITHIN THE SAME OCCUPATION i. Differences in the environment: For example a doctor sent to North Eastern Province must be pai
FUNCTIONS OF CENTRAL BANK Economists and financial experts lack in unanimity about the functions of a central bank. According to Kisch and Elkin, the essential function of a c
Indifference curves In order to explain indifference curves, we will again make the simplifying assumption that the consumer buys two goods, x and y. The table below gives
what is profit appropriation
Let Consider an economy with three states. The following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4). The t=0 prices of these stocks are give
Explain how a product would reach equilibrium position with the help of -iso-quants and iso-cost curve.
producer equllibrium
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