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How does the approach of someone who has adopted the precautionary principle differ from someone with a blind faith in substitutability, when it comes to a non-renewable resource like fossil fuels?
Someone with a blind faith in substitutability will think that the depletion of a non-renewable resource like fossil fuels is not such a serious problem, as they have faith that in the future other resources can cheaply be substituted for it. Whereas someone who has adopted the precautionary principle will think that we should err on the cautions side and not simply suppose that other resources can be cheaply substituted for the non-renewable resource
Q. Show the method of applying a discount? The method of applying a discount rate to convert future monetary amounts to their equivalent value in today's terms, based on the pr
Q. What do you meant by Investment? Investment: Investment represents production which isn't consumed though rather is utilized in the production of other additional output. In
Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows: Playe
Devil's Advocate Explicit role undertaken by a group member who actively questions and challenges the group's ideas, procedure, and decisions. Such active questioning helps de
Division of labour: Division of labour involves dividing a production process into a number of smaller tasks for each task to be undertaken by a different worker. It may also be
PEST analysis Political factors: The political factors include laws and regulations in the market and this influences the market activities. These laws and regulations a
Let Consider the following insurance market. There are two states of the world, B and G , and two types of consumers, H and L, who have probabilities p H =0.5 and p L
Special Drawing Rights: SDRs are entitlement granted to member countries enabling them to draw from the IMF apart from their quota. It is similar to a bank granting a credit l
Which of the following is evidence of market power? a. Output is fixed despite cost changes b. Optimal Output is less than industry output c. Output changes as cost changes
what the third degree price discrimination with case study of two successfull and unsuccessfull cases?
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