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Infrastructure :
Infrastructure plays an important role in the development of an economy. The adequacy or lack of it determines an economy's success or failure in increasing production, expanding trade, reducing poverty and improving environmental conditions. Infrastructure is of two types: economic and social. In this unit, we shall discuss the performance of various components of economic and social infrastructure, their growth and trend, inter-state disparities and implementation related issues. Let us begin with stating the concept and meaning of infrastructure.
ELEMENTARY THEORY OF PRICE FORMATION: DEMAND-SUPPLY ANALYSIS: We discuss the elementary theory of price formation. Demand curve in the market is derived from the aggregate con
What are the keys of the profit maximisation in production technology? Profit Maximization in production technology: a. Producer Behavior b. Producer’s Optimal Choice
what are the types of economic analysis
Conventions as a Basis for Forming Expectations : Since there is little objective basis for probability distributions about future yields, decision-makers have to act on the ba
Monopoly is that form of market where there is only one firm producing a particular product. Being the sole supplier, the monopoly firm has the power to control prices and output t
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
Two people are engaged in a joint project. If each person i puts in the effort xi, the outcome of the project is worth f(x1, x2). Each person’s effort level xi is a number between
"In U.S., there is a culture of greeting people of the same sex. It's not common that people give attention to the people of the opposite sex. However, in the middle class, it's a
Nature of Expectations in Keynes' Theory : The above discussion on the nature of expectations in Keynes' theory may be summarised as follows: 1) In forming long-term expec
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 a
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