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What is the difference between price value and price level?
Price value is the value of commodity bought by the consumer at a certain price from the market, while, price level is the present market price prevailing in the market.
Clearly explain the distinction between supply, demand and equilibrium price.
Name the two actors in the basic neoclassical (or traditional microeconomic) model of economics, and identify the assumptions the model makes of these two actors. Firms and hou
Concepts of Income and Substitution Effects: Change in demand for a good due to one unit change in price of that good for given prices and money income is known as own price
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CRITIQUE OF ECONOMIC REFORMS: The critique of economic reforms should consider the actual growth rate achieved, its impact on employment and poverty reduction, its impact on l
what is basing point
In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every
explain slutsky theorm with graphical representation
Outline four limitation of game theory?
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