Economics

Assignment on Theory of the Firm

Here focus on Theory of the Firm, which suggest that firms generate goods to a point where marginal cost equals marginal revenue, and use factors of production to the point where their marginal revenue product is equal to the costs incurred in employing the factors. It has not made much headway i.....

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Assignment on Economic Competence

Assignment on Economic Competence Economic Competence is, roughly speaking; a situation in which nothing can be improved without something else being hurt. Depending on the context, it is usually one of the following two related concepts: Allocative or Pareto Competence: any changes made to assis.....

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Analyze Economical Situation in Profitable Sectors in Bangladesh

Analyze Economical Situation in Profitable Sectors in Bangladesh With the development of the civilization every activity of human have become dependent on economic. National Income is one of the importance part of National economic. To  know about countries economical strengths we get to have Id.....

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Economic Methodology

Economic Methodology concerns the principles underlying economic argumentation. It will discuss current economic problems and focus on providing suitable framework to study further various fields of Economics. It emerged as a recognizable field, at the boundaries of economics, philosophy and scie.....

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Law of Demand

Law of Demand actually says that the higher the price, the lower the quantity demanded, because consumers’ opportunity cost to acquire that good or service increases, and they must make more tradeoffs to acquire the more expensive product. It holds in most instances, except in case of Giffen go.....

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Inverse Demand Function

Inverse Demand Function is not the reciprocal of the demand function—the word “inverse” refers to the mathematical concept of an inverse function. It is a function p(q) that maps from a quantity of output to a price in the market; one might model the demand a firm faces by positing .....

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Complementary Good

Complementary Good actually means a good’s demand is increased when the price of another good is decreased. It is a good with a negative cross elasticity of demand, in contrast to a substitute good. If the price of one good falls and people buy more of it, they will usually buy more of the .....

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World Economy

This article actually focus on World Economy, which is considered as the international exchange of goods and services that is expressed in monetary units of account  or money. It refers to all of the economic activity within each country and between countries around the world. It has also become.....

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Transition Economy

Transition Economy is an economy which is changing from a centrally planned economy to a market economy. It is moving from being a controlled economy to being an open economy. Transition economies are involved in a process of moving from a centrally planned economy to a mixed or free market econo.....

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Token Economy

Token Economy is a system for providing positive reinforcement to a child or children by giving them tokens for completing tasks or behaving in desired ways. It is a method of encouraging desirable behavior, especially in a hospital setting, by offering rewards of token money that can be exchange.....

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Plantation Economy

This article talks about Plantation Economy, which is an economy based on agricultural mass production. It continue to reflect the historic legacy with plantation-type enterprises operating in primary, natural resource sectors, such as oil, gas, bauxite, bananas, sugar, and tourism. It share the .....

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Palace Economy

Palace Economy is a system of economic organisation in which wealth flows out from a central source, eventually reaching the common people, who have no other source of income. It is a specific type of redistribution system in which the economic activities of the civilization are conducted on or n.....

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