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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.
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What is the Adam smith view of "invisible Hand"? Invisible hand is an unknown power which is working for the interest of total economy. In any economy, everybody cares for his
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Change in consumer and producer surplus from price controls * Observations: - The loss is equal to area B + C. - The change in surplus = (A - B) + (-A - C) = -B - C -
Laspeyres index The Laspeyres index tells us that: - The amount of money at present year prices which an individual requires to purchase bundle of goods and services which w
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I wanted to the fixed and variable costs of breadtalk in singapore from economic perspective
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Why might an oligopoly be reluctant to change its price? When some large firms have high total market share and are non-collusive, there is a strong element of interdependency.
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