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Theories and Models
?? Microeconomic Analysis
– Theories are taken in use to describe the observed phenomena in terms of a set of essential rules and hypothesis. For instance
– The Theory of Consumer Behavior
– The Theory of the Firm
– Models:
A mathematical interpretation of a theory utilized to make a forecast.
– Validate a Theory
The validity of a theory is checked by the quality or value of its prediction, known by the assumptions.
– Evolving the Theory
Examining and refining theories is essential to the development of the science of economics.
Sources of Economic growth: Human resources: Investment in human capital is considered as an important factor for economic growth. This is done by increasing the quality of
what is the relation ship between mp,tp,ap
Q. What is Free Trade Agreements? Free Trade Agreements:It is an agreement between two or more countriesthat eliminates tariffs on trade between the countries, reduces non-tari
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explain how a perfact market responds to changes in consumer demand?
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How does the production possibilietes curve relate to present day economics?
Marginal rate of technical substitution in the theory of production is similar to the concept of marginal rate of substituent to in the indifference curve analysis of consumer dema
i need to find Profitability, Earning capacity, Capital structure, Robustness from annual reports. Not a long job..
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