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International trade:
International trade refers to the exchange of goods and services between countries. Goods sold to other countries are referred to as exports and goods bought from them are dubbed as imports. International trade also involves movement of capital between countries.The bottom line for the existence of international trade is differences in cost of production across countries. Balance of payments is an account that summarizes a country’s total payments and total receipts from international economic transactions within a specific period usually one year.
The foreign exchange market is an organizational setting within which individuals, business firms, banks etc buy and sell foreign currency, It has no centralised meeting place and not limited to one country.
The circular flow diagram is used to represent the interdependence that exists between sectors of the economy. The diagram illustrates that there are various collections of same e
a. Determine Australia’s market equilibrium for TV sets. i. (1) What are the equilibrium price and quantity?
do you give solutions
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draw the following diagrams and explain their shapes: the production possibilities frontier a demand curve the demand curve for a firm in perfect competition the demand curve for a
The price at which output is sold in a perfectly competitive market is determined by
reasons for and against free trade with foreign sector
Why total product continues to increase despite a decrease in the marginal product?
Expenditure Trends and Pattern: Total expenditure of the Centre has risen twice as fast as total revenue, although much of this reflects rising interest payments. Revenue expe
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