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How equilibrium income in a closed economy is determined?
There is equilibrium in a closed economy (that which doesn't encourage in international trade), when there is the circular flow of income between House-holds & firms, where the house-holds own the factors of production, which is given to firms, which in return gives factors of income for their services. the firm uses fatcors of production to produce goods & services, whereas house-holds consume goods & services using factors of production. Here NI=NO=NE.
What is an monopolistic?
Monopolistic competition is a market situation that is different from both perfect competition (PC) and monopoly. The theory of monopolistic competition was first developed by Chamberlin. In monopolistic competition the firms sell differentiated yet highly substitutable products, whereas in PC, the firms engage in production of homogeneous products. This product differentiation gives the firms a bit of monopoly power in pricing and they face slightly downward sloping demand curve as compared to the horizontal demand curve of PC. However, the free entry and exit of firms ensures that these firms have limited monopoly and no super normal profits arise in the long-run.
What is the role of entrepreneurship in economic development?
entrepreneuship allows the economy to grow because it gives people more jobs, creates new inventions and ideas, national income, better standard of living, regional development ...
What is an economic or commercial map?
An economic or commercial map is a map that gives the economic development and production of each area. An economic map can be of any size range, from continents to towns.
Why is business consider a lawful economic activity?
business is considered as a lawful economic activity because it is highly and legally recognized by the government. The government gives authority to the firms in using or utilizing economic resources like land, soil and many more in order to produce something that are useful and can be needed for survival.
Where can one find out about maritime law firms?
Depending on what country you need a maritime law firm for, it's worth going on The Legal 500 website which gives information about maritime law firms in various countries.
How equilibrium income in a closed economy is determined?
There is equilibrium in a closed economy (that which doesn't encourage in international trade), when there is the circular flow of income between House-holds & firms, where the house-holds own the factors of production, which is given to firms, which in return gives factors of income for their services. the firm uses fatcors of production to produce goods & services, whereas house-holds consume goods & services using factors of production. Here NI=NO=NE.
What is democratic corporatism?
Democratic Corporatism is where a government gives public dollars to private bankers, insurance and drug firms, in the hope that such largesse will compel those firms to change.
If a cow gives birth to twin heifers are they sterile?
No, twin heifers born from a cow are not necessarily sterile. Twinning in cattle can sometimes result in one of the twins being sterile due to fertility issues, but it is not a guarantee for all cases. It would depend on various factors such as genetics, health, and individual development.
Describe the role of psychology in curriculum development?
Psychology attempts to describe, explain and predict human behaviour. Psychology gives us an insight into the child's development and learning and provides various techniques of inquiry for use in the curriculum area.
Which gives the prime factors of 84?
The prime factors of 84 are: 2, 3 and 7.
What are the subsidiaries of Softrate?
Curiouswings is an E-learning platform that gives insights on various topics that can be useful for skill development. Another subsidiary is Deepdrones. Deep drones is an Aerospace company that makes dynamic and multipurpose drones.
What is the benefit to compare brokerage firms?
Comparing brokerage firms gives one the opportunity to find a firm that offers the trade types that he is interested in. Also, each firm has different minimum commissions and balances. Finding brokers who are competent is also important.
What are the factors that gives rise to us being individuals?
Genetic and environmental factors shape us as individuals.
How do the physical factors affect development?
Well nourished individuals can be physically healthy with in turn gives the person energy and stamina to complete everyday activities with ease. This leads to improvement in their ability or chance to develop to their full potential and lead productive and creative lives in accord with their needs and interests thus improving their human development.
Where is the mesenchyme found?
Mesenchyme is a type of connective tissue found in early embryos. It gives rise to various types of cells, including bone, cartilage, and muscle cells. Mesenchyme can be found in the development of organs and tissues throughout the body.
How to read international mover invoice?
Various company gives this invoice in various way such as http://www.baileysworldwide.com
