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What is the Adam smith view of "invisible Hand"?
Invisible hand is an unknown power which is working for the interest of total economy. In any economy, everybody cares for his/her personal advantage in the market but market as a whole also runs very smoothly which means that there is some unknown power behind economic market which is running the entire economy. One example of this invisible hand is Government itself.
Taxes: Compulsory government levies collected to pay for public spending. There are numerous types of taxes (corporate, income, wealth, sales, environmentaland payroll taxes); each
Homework 4 Q1. Suppose a consumer has utility function (u) = xy where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is $120, pri
the demand and supply functions for goods are given by demand:Pd=50-3Qds and supply:Ps=14=1.5Qs. where p is the price of a pair of jeans, Q is the number of pairs of jeans a) calc
methylcyclohexene + HI by the catalyst of H3PO4
CROP PATTERNS: Analysis of crop patterns in India should relate to the following aspects: a) The relative significance of different crops/crop groups in the overall area u
A country s choice among the production of education and nuclear submarines is an issue of opportunity cost. Explain the issue using a PPF. Resources are limited whereas
Calculating Variance (σ) The standard deviations of the 2 jobs are: The standard deviation is used when there are several outcomes instead of only two. * An Examp
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod
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Relatiön between TC ,TFC and TVC
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