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Q. What is Corporation?
A corporation is a form of business established as an independent legal entity, separate from individuals who own it. A main benefit, for owners, of this form of business is that it provides for limited liability for its owners: potential losses resulting from their ownership of company (must it lose money, face legal difficulties or experience other problems) are limited to amount initially invested by the owners. Owners' other personal wealth is kept protected and separate from claims against the corporation. Corporation is hence well-suited to the joint stock form of ownership.
concept of the law of supply
what is the theory of second best ? prove the theorem with the help of a diagram .
Aggregate Supply When referred to in the circumstance of GNP or GDP, aggregate supply refers to the labor and capital needs to proceeds the level of products and services need
Perfect competition has the following characteristics: 1. Large number of firms - There are a large number of firms in the market. Due to this each firm produces a very small fr
explain economic growth
what is International Cartels and Commodity Agreements? Describe briefly International Cartels and Commodity Agreements, what are Commodity agreements?
The drawbacks of a mixed economy actually depend on how "mixed" it is. For instance, if it is mixed more towards a free-market, there is little regulation (some may see this as a g
theory of profit
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
Substitution Effect - The substitution effect is change in an item's consumption associated with the change in the price of the item, level of utility held constant. - Wh
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