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Development: Economic development is the process through that a country's economy expands and improves in both qualitative and quantitative terms. Economic development requires coming together of numerous different processes and conditions: accumulation of real capital; development of education, human capacities and skills; improvements in governance, democracy and stability; and changes in the sectoral make-up of the economy.
Average Product (AP) of a Factor: The productivity of a factor is often seen in terms of its average contribution. Although not very important in the theoretical discussions,
Fixed costs are those which are independent of output that is they do not change with changes in output. These costs are a fixed amount which must be incurred by a firm in the shor
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The prevention of major swings in economic activity can be handled most easily by the
1.what is price mechanism? 2.how does price mechanism benefit an echonomy. 3.what are the characteristics of a centrally planned economy?
Q. What is Exchange Rate? Exchange Rate: The ‘price' at which currency of one country can be converted into the currency of another country. A country's currency is ‘strong,'or
explain stages and various coordination mechanism involved in policy process
What is the Molarity and Normality of the ferrous ammonium salt ? For exam....196 gm (initial)
Graphical Representation of Various Returns: Diminishing Returns: If the TP curve is as shown in the adjacent Figure, then the MPL given by tanθ is throughout less than the A
Define International Quota Agreements, • International Quota Agreements seek to prevent fall in commodity prices by regulating their supply. Under the quota agreement export quot
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