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DISCUSS THE COMPENSATION PRINCIPLE OF KALDOR -HICKS
Social cost: Social cost of production refers to the cost incurred by a society when its economic resources are used to produce a given commodity. The usage of a society’s res
Suppose that demand is downward sloping and supply upward sloping. Subsidies cause dead weight loss despite the fact that: 1)consumer surplus increases. 2)total surplus increases
use the concept of the income elasticity of demand to explain the difference necessities, luxuries and inferior goods
Fiscal Imbalance: The persistent rise in resource gap has led to a growing volume of public debt. The central feature that emerges is a serious fiscal imbalance, arising from
Determine The Rule of Divergence in General Though even if attention is confined to non-communist-ruled economies there still has been huge divergence in relative output per w
Growth of Agricultural Production and Productivity: Post-independence period was marked by severe and recurrent shortages of foodgrains. Dependence on imports of foodgrains wa
what is International Cartels and Commodity Agreements? Describe briefly International Cartels and Commodity Agreements, what are Commodity agreements?
what is the relationship between TP, MP and AP
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
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