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Sources of external economies of scale:
Economies of Skilled Labour:
This involves upgrading the skills of labour through the provision of education and training facilities in a well-organised industry. This ensures that education and training of labour do not become part of the industry’s daily operations but rather some specialized institutions take over the performance of these functions. This is often easier in well-organised industries than less organized ones. Such education and training culminate in economies of manpower development and generally lower the cost of production in the industry.
"As long as consumers are willing to pay a positive price for a good, the larger is the quantity formed, the greater is the total surplus from trade." Explain this statement if i
"Cross-Correlations of output(t) with" "x(t-1)" [3,] "output" "0.3" [4,] "consumption" "0.1
Define law of supply. Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then s
Economic growth and Economic development: Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income.A country is
Really briefly, what are 2 methods of measuring external stability? In Australia generally.
What is the impact of microeconomics on economy?
Identify the four institutional requirements of markets. The four institutional needs of markets are: Pprivate property, Social institutions of trust, Good physical i
list all the type of cost
QUALITY OF EMPLOYMENT : Productivity of Employment In a poor country like India being employed does not by itself necessarily ensure a decent level of living. In 1999-2000 th
Explain how automatic (fiscal) stabilisers may help to lower fluctuations in the business cycle. Definition of automatic stabilisers as built-in to the system in terms of trans
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