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What is Normative economics
It is concerned with varied corrective measures which a management undertakes under different circumstances. It deals with goaldevelopment, goal determination and achievement of these goals. Policy-making, Future planning, optimal utilisation and decision-making of available resources comes under the banner of managerial economics.
Commercial Banks A Commercial Bank is a financial institution which undertakes all kinds of ordinary banking business like accepting deposits, advancing loans and is a member
PER CAPITA INCOME AND INTERNATIONAL COMPARISONS Per capita income figures can also be used to compare the standards of living of different countries. Thus if the per capita in
the demand for widgets(x) is given by: px=160 -4x the production of widget has the following average variable cost: Avc=2x-20 fixed cost are 162 calculate the output level of widg
Prices of the factors of production As the prices of those factors of production used intensively by X producers rise, so do the firms' costs. This cause supply to fall as some
Demand management policies These policies are intended to increase aggregate demand and, therefore the equilibrium level of national income. They are sometimes called fiscal a
What is Managerial economics according to McGutgan and Moye McGutgan and Moyer: "Managerial economics is the application of economic theory and methodology to decision-making
Features of Monoploy in Monopolistic Competition Monopolistic competition has the following features from monopoly : As the products are differentiated substitutes, each b
NON-ACCELERATING INFLATION RATE OF UNEMPLOYMENT During 1970s economists encountered a puzzle in the sense that inflation and unemployment data did not fit into the Phi
Write the forecasting techniques There are many forecasting techniques available to person assisting the business in planning its sales. Take for instance a forecasting metho
Objectives of ICAs Most schemes have as their main objective to stabilize and/or increase the world price of commodity, producers' incomes, foreign exchange earnings of export
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