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Q. What do you meant by Real GDP?
Real GDP:Value of total gross domestic product (which is, all the services and goods produced for money in the economy) adjusted for effects of inflation. Theoretically real GDP represents physical quantity of output.
what are the limitations of economies of scale?
what is demand function
sequential game
Definition and graph of centralized cartel
Accounting profit equals revenue minus all explicit costs, and economic. One profit is defined it should not be difficult to measure the profit of a firm for a given period. But tw
Problem 1: i) ‘There is a trade-off between inflation and unemployment.' Do you agree with this statement? Justify your example using appropriate diagrams. ii) Mauritius is
Suppose that there is a credit market imperfection because of limited commitment. As in the setup with collateralized wealth, each consumer has a component of wealth which has valu
Poverty: A state of having inadequate income or other resources to support a household (or group of households) at a basic standard of living. Poverty can be measured in absoluterr
4) The prevention of major swings in economic activity can be handled most easily by the A. household sector B. business sector C. financial sector
Q. Explain about Natural Monopoly? Natural Monopoly: In some industries, economies of scale are so strong that it makes most economic sense for there to be just one supplier. T
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