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Question:
i) Explain the main problems with government intervention.
ii) Why and how do governments seek to control monopolies?
iii) A country should specialise in the production of the good in which it has the lowest opportunity cost. Discuss.
What are subsidies? Almost in all market systems, government plays its role to stabilize the price of certain commodities, which are of public interest like medicines and edib
An increase in the scale means that all inputs or factors are increased in a given proportion. Increase in the scale thus occurs when all factors or inputs are increased keeping fa
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Economic Rent - Economic rent is difference between what firms are willing to pay for the input less the minimum amount required to obtain it. * An Example - There are tw
why does economist agree or disagree?
CROP PATTERNS: Analysis of crop patterns in India should relate to the following aspects: a) The relative significance of different crops/crop groups in the overall area u
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