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INTERNATIONAL FINANCIAL INSTITUTIONS
In July 1944, a conference took place at Bretton Woods in New Hampshire to try to establish the pattern of post-war international monetary transactions. The aim was to try to achieve free convertibility, improve international liquidity and avoid the economic nationalism which had characterized the inter war period.
The result was that two institutions were established: in 1946, the International Bank for Reconstruction and Development (IBRD); and in 1947 the International Monetary Fund.
THE LAW OF DIMINISHING RETURNS (LAW OF VARIABLE PROPORTIONS) One of the most important and fundamental principles involved in economics called the law of diminishing return
Q. Explain the Leibenstein model? Leibenstein (1966) sees a firm's norms or conventions, dependent on its history of management initiatives, labour relations and other factors
Elasticity of Demand As the law of demand establishes a relationship between quantity demanded and price for a product, it doesn't tell us exactly as how weak or strong the rel
MONOPOLISTIC PRACTICES The following practices may be said to characterize monopolies. Exclusive dealing to supply and collective boycott Producers agree to supply onl
Practical Importance of the knowledge of Price Elasticity of demand The practical importance of the measures of elasticity of demand is to be appreciated in various ways:
Q. Can you explain about Demand Forecasting? Demand forecasting involves forecasting and estimating the quantity of a service or product that consumers will buy in future. It a
It can be geometrically proved that two elasticity are equal, which is., QB=RD Let's first consider ΔAOB. If we draw a horizontal line from point Q to intersect the vertical axis a
what is meant by equi-marginal concept
According to J.B. Clark's profits arises in a dynamic economy, not in a static one. A static economy is one in which there is absolute freedom of competition population and capital
Legal Sanction: A monopoly as stated above may be the result of a government sanction. The government of a country may legally permit a private monopoly or monopoly in the public s
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