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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.
lung run eqiulibrium
Factors that determine the volume of side of production
a) Describe and derive the equilibrium contract offered to high risk individuals. b) Describe and derive the equilibrium contract offe
KEYNES' THEORY AND EXPECTATIONS : Expectations played a major role in Keynes' theory of the determination of aggregate output and employment in market economies in the short run
Determinants of Private Demand - Ability to Pay In a developing country like India, of all the factors determining investments in education, the most important factor is the ‘
Define why prices is significant for economy Reason for using different weights is that some prices are more significant than others for economy. Price of gasoline, for instanc
SUMMARY OF THEORY OF PRODUCTION
Q. What is Heterodox Economics? Heterodox Economics:Different schools of thought (including post-Keynesian, Marxian, structuralist and institutionalist economics) which reject
What are the basic questions to be answered by economic institution? Four fundamental questions should be answered by any economic institution as: a. What goods and services
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