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Direct and Indirect Benefits
Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in agriculture that assist in stepping up productivity is another illustration of direct benefits.
Development of attitudes favourable for
They all are instances of indirect benefits. Studies of development response in rural areas have revealed that persons with even lower primary education demonstrate a higher level of response as compared to illiterates when other correlates of life are comparable.
diffence b/n fixed and variable input
The Budget Line The line BB gives the persons budget constraint. It is described by the linear equation c + wl = w; which can be rewritten as c = w - wl: The budget li
Explain how a floating exchange rate works and the variables which affect the rate. Define a floating exchange rate as the price of a currency (in terms of another or basket of
Syndicated and organized oligopoly
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Mathematical representation - Inflation Unemployment Trade-off : Suppose that firms correctly perceive the state of demand in the economy and the rate of price inflation. The
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when total production fall what,s the status of average product and marginal product
If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $
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