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Q. What do you meant by Informal Economy?
Informal Economy:Informal sector of the economy represents the production of services and goods for the own-use of the producers or for informal or ‘underground' trade in particular communities (as opposed to formal economy). It is specifically important in developing countries.
Point Elasticity: Point elasticity is brought in use when the change in price is quite small, which means. The two points between which elasticity is being measured or calculat
exams?
Relatiön between TC ,TFC and TVC
Marginal Product Theory a. What is the MC of output in the short-run? b. What is the MC of labor (employed)? c. What is the short-run profit-maximizing decision
The price of oil increases because OPEC reduces oil production
what is the homogeinity of demand function wrt prices and income
You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a
Problems relating to national income estimation: Changing prices of goods and services . Prices of goods and services do change from one period to another. This makes compari
The Industrial Revolution The century after 1750, saw the industrial revolution proper: invention of steam engine, spinning jenny, power loom, hydraulic press, railroad locomot
Uses of Balance of payments account: It removes the uncertainty associated with the flexible exchange rate regime and brings stability. It also indirectly imposes some anti inf
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