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Separate Administrative Set-up for Exports:
It may be worth examining the setting up of Foreign Trade Board, similar to what obtains in Japan (JETRO) and South Korea (KETRO). Further, a professional cadre for export may also be created as a part of the administrative services in the form of an Indian Foreign Trade Service (IFTS). Candidates specialising in export services will need to be trained in a whole range of professional skills such as international marketing, export incentives and investment management, export administration and regulatory implications. There is a need to develop synergy between large-scale sector and small-scale sector.
1. How does the marginal social benefit curve of a common resource compare to the marginal social benefit curve of positive externality from a mixed good? Highlight the difference
What is snob effect
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critically evaluate the two main utility theories
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do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
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