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MEASURES TO PROMOTE GROWTH:
In view of the recent global experience, the following steps need be taken to accelerate the rate of growth.
1) Mastering and constantly improving process technology with just-in-time inventory systems, inter-active supplier relationships, total quality management (getting it right the first time to economise on inspection, reworking, retesting and warrantly claims), a production system driven by computer-aided design/manufacture, rapid retooling processes and delivering enhanced product value at the lowered costs which follow economies of scale.
2) Focussing on seven key sectors: microelectronics, biotech, polymers, telecom, robotics and 'smart' machine tools, information technology and civil aviation.
3) Practising economic discipline with a high savings rate to generate capital.
NEW CLASSICAL BUSINES CYCLE THOERY: Yang, Xioaokai, Economics: New Classical versus Neoclassical Frameworks, Oxford: Blackwell Publishers. The book goes on to rigorously dev
identify and discuss four major managerial factors that lead to dis-economies of scale
Q. Distribution of income? Distribution:Distribution of income reflects the process by which real output of services and goods produced by the economy is allocated to different
Describe the poverty cycle and suggest how a developing country can break the cycle. The poverty cycle is explained as the trap developing countries can land in; low incomes →
"Micron" is a company,providing micro financing facility for various business entities.So far Micron has been in operation for seven years facilitating new business ventures and ex
Policies of Savings and Investment Policies to make sure that savers get reasonable rates of return on their savings have the potential to boost savings rate. Comparing systems
Institutionalist Economics: A school of heterodox economicsthat emphasizes importance of institutional development and evolution (as opposed to ‘pure' market forces) in explaining
Example of a cost function
Suppose that two anti-marijuana proposals are currently being debated in Congress. Proposal I will reduce the supply of marijuana and cause its price to rise by 7%. Proposal II wil
TRENDS OF NATIONAL INCOME: Estimates relating to India's national income and per capita income are available to us for each of the years beginning 1950-51. These estimates are
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