What are the limitations of Circular Flow Model
What are the limitations of Circular Flow Model?
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1. Does not depict transactions between households and between businesses.
2. Ignores government and the “rest of the world” in the decision-making process.
3. Does not explain how prices of products and resources are actually determined.
Is Eiteman & Guthrie’s empirical evidence on the shape of the average total cost curve consistent along with heterodox cost theory? Discuss it out.
The initial systematic and popular description of capitalism was explained in: (1) Sir Thomas Mun’s England’s Treasure by Foreign Trade. (2) Joseph A. Schumpeter’s Capitalism, Socialism, and Democracy. (3) John Maynard Keynes’
Importance of Economics:Economics has become one of the major branches of social sciences. This is of enormous practical value in our day by day life. In pure sciences, we study the subject
Normal resident: The persons or an institution who lives in a country and whose centre of interest lies in that country is termed as a normal resident of that country.
Elucidate reallocation of Government resources?
consumer's interview method for demand forecasting(point to point explain)
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Question: For a freely floating currency, currency i.____________________ occurs when the market value of a country's currency rises relative to the value of another country's currency, while currency ii.__________
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