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Illustrates the stages of the production of an economic conclusion?
The production of an economic conclusion generally goes into three stages as follows:
Stage 1: It is non-mathematical language stage, generates preliminary outputs, propose economic concepts, conjectures and intuitions.
Stage 2: It is mathematical language stage, generates intermediate outputs, provide a formal and rigorous result by mathematical modelling which specifies the boundary of a theory.
Stage 3: It is non-technical language stage, generates last outputs, conclusions, insights and statements which can be understood through non-specialists.
EOQ formula The EOQ equation assumes demand is constant and steady. It also assumes that demand for different items is independent. This is inappropriate for controlling inve
TYPES OF POLLUTANTS In general the air pollutants can be sub divided into 2 catexampleories: Primary pollutants and Secondary pollutants Primary pollutants These are the poll
explain what will happen to price , the marginal cost of rice, and the quantity produced if the government sets a production quota of 2000 bags a week. draw a graph and explain you
Q. Describe Labour Market Segmentation? Labour Market Segmentation: Deep and systematic differences among various groups of workers, in which different types of workers are eff
Q. What do you mean by Bond? Bond: A financial security that represents promise of its issuer (generally a company or a government) to repay a loan over a specified time period
Extracellular digestion is that in which food breaking into utile molecules that can be internalized by the cell is completed in the extracellular space, i.e., outside the cell. In
What is the difference between decreasing marginal returns and negative marginal returns?
wHEN WAGE IS $6.05, HOW MANY HOURS ARE WORKED A WEEK?
The drawbacks of a mixed economy actually depend on how "mixed" it is. For instance, if it is mixed more towards a free-market, there is little regulation (some may see this as a g
Privatisation of the Economy: Privatisation has to be viewed in two ways: In a narrow sense, it implies the induction of private ownership in a public sector undertaking. In a
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