Physical quality of life index
DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.
Explain the concept of “economies of scale” and “increasing returns”.
Illustrate whether output generated for self consumption is comprised or not comprised in the value of output? Answer: The output generated for self consumption is
The direct economic resources a farmer employs to generate avocadoes would not comprise: (I) human capital in form of expertise regarding growing avocadoes. (II) fertile land. (III) loans from a bank to finance SUCH year’s crop. (IV) machinery,
What is the base of categorizing receipts into revenue and capital receipts?
Land, capital and labor are all scarce since: (1) advertising mainly over stimulates human wants. (2) once employed they cannot be used again. (3) each productive resource needs a monetary return for its employ. (4) inheritance under a capitalism prot
"In corn market, demand often exceeds supply and supply sometimes exceeds demand." "The price of corn rises and falls in response to changes in supply and demand."
The market system's answer to the fundamental question "How will the system promote progress?" is essentially:
Quantity of a good: The quantity of a good which buyers demand is found out by the price of the good, income, the prices of associated goods, expectations, tastes, and the number of buyers.
Does full employment take place if AD = AS or S = I?
Definition of surplus: It is a condition in which quantity supplied is more than quantity demanded. To remove the surplus, producers will minimize the price till the market reaches to equilibrium.
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