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Is economic development is based on goverment
Many governments--mainly unelected governments-aren't that interested in economic development. Giving valuable industrial franchises to nephews of dictator; making sure that members of your ethnic group are in key places to extort bribes; or taking foreign exchange which would have been spent importing productive machinery and equipment and using it in place of buy more modern weapons for the army--these can seem more attractive options. In absence of political democracy checks on a government that doesn't seek economic development are few.
Furthermore checks on government that do exist may not be helpful. In a non-democracy--or a shaky semi-democracy--there are two probable sources of pressure on government: riots in the capital and coups by the soldiers. Even a government which seeks only the best for its people in terms of economic growth would have to deal with these sources of pressure and will have to avoid coups by soldiers and riots in capital.
Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
uses of time series in Indian Economy?
Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capit
#questThe demand for and supply of labour in a certain industry are given by the equations Nd = 400 - 2w Ns = 240 + 2w Where Nd ( is the number of workers employers want to hire
marginal utility is applied on money or not
GENERAL PRINCIPLE OF EXTRACTION OF METALS
What is average revenue and average revenue curve Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
what is the assumption of the model ?
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why society has chosen the mixed economy
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