Describe the Personal distribution of income
Describe the Personal distribution of income?
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1. It is defined as by separating the population equal parts into 5 numerically or in quintiles.
2. Each quintile are compared when Proportions of total income is obtainable.
3. Unequal distribution of income shows its Comparison. For example: the top quintile is relative to the bottom fifth it shows how many times greater the share of income.
Elucidate facilitating factors that explain the growth of trade?
Elucidate an example of simultaneous changes in both supply and demand?
Illustrate the several determinants of demand besides price which affect demand?
What are the main sources of growth?
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Adam Smith’s opinion of an “invisible hand” powerfully implies the meaning that: (w) pursuit of individual self interest must be controlled. (x) most people lose sight of what’s good for society. (y) most peopl
Briefly describe the term cost of capital and also illustrate out its significance?
Who are the major players in international trade today? Besides Japan, what other Asian nations play significant roles in international trade?
Why is the problem of unemployment a part of the subject matter of economics?
Describe two kinds of efficiency Full production imply?
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