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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.
what does General Equilibrium in consumption means?
V alue Additivity In an efficient market the value of any 2 assets can be estimated as the sum of the values of the two individual assets. This is a variation on the theme
Use of Income elasticity of demand: Income elasticity of demand on the other hand, has the following uses (i) Income elasticity of demand shows how the pattern of consumer de
discuss the trend and composition of national income and per capital income
Marketing Economies: These are derived from the bulk purchasing of inputs and bulk distribution of outputs. A large firm is able to buy its raw materials in larger quantities
Separate Administrative Set-up for Exports: It may be worth examining the setting up of Foreign Trade Board, similar to what obtains in Japan (JETRO) and South Korea (KETRO)
is south african economic system more allocative efficient?
factors that affects the volume of production
Return on Equity: It's a measure of business profitability equal to net after-tax income divided by average level of shareholders' equity in the business. Sales Tax: A tax im
Uses and Habit Forming Commodity -price elasticity of demand: The number of possible uses : A commodity has high price elasticity of demand (or elastic demand) if it can be p
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