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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.
why constant return to scale is important
What is indifference curve and its properties?
hoe does the knowledge of price elasticity of demand important to the government
NETWORK EXTERNALITIES Till this point we have assumed that people's demands for good are independent of each other. Actually, a person's demand can be affected by the number
income=100 price of x=5 price of x2=10 find consumer equilibrium with diagram
Movements of the demand curve itself, either to the left or right are known as changes in demand. A change in demand is caused by a change in one or more of the nonprice determina
mixed strategy
RATIONAL EXPECTATIONS AND ECONOMIC THEORY : We assumed above that the role of economic theory is not to provide quantitative predictions about the future. Suppose we assume ins
The market structure in the south African mobile telecommunications industry
Example: The Value of Clean Air Air is free in sense that we do not pay to breathe it. Question: Are benefits of cleaning up air worth the costs? People pay extra to buy
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