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Infant Industry Argument
Advocates of this maintain that if an industry is just developing, with a good chance of success once it is established and reaping economies of sale, then is it necessary to protect it from competition temporarily until it reaches levels of producdton and cost which allow it to compete with established industries elsewhere, until it can "stand on its own feet". The argument is most commonly used to justify the high level of protection that surrounds the manufacturing industry in developing countries, as they attempt to replace foreign goods with those made in their own country ("import substitution").
Keynesian unemployment According to Keynesian theory of income and employment, unemployment occurs due to lack of effective demand. If effective demand is less, production of
Q. Explain the Game theory? Game theory: Game theory is a branch of applied mathematics which is used in the social sciences, most particularly in economics, as well as in b
Disadvantages of Barter Trade It is impossible to barter unless A has what B wants, and A wants what B has. This is called double coincidence of wants and is difficult t
Theory of Capital and Investment: Theory of Capital and Investment evinces the below significant issues: Selection of a viable investment project Efficient allocatio
Limits on the process of bank deposit creation On the demand side , there may be a lack of demand for loans, or at least of borrowers who are sufficiently credit worthy .
The Central Bank These are usually owned and operated by governments and their functions are: i. Government's banker : Government's need to hold their funds in an ac
p=10, TC= 1000+2Q+.01Q^2, Q=?
write a note on marris growth maximising model?
Thinking about modifications in the model again: Go back to the original model again, but add a marginal propensity to invest, this is, suppose that I = f ( i and Y). The MPI is d
briefly explain oppurtunity cost in decision making?
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