CETKing Free Primers: World bank report Article on global Meltdown Highlights Of Economic Survey 2009-10 • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 6-8 LPG cylinders funded per year High liquidity could mean inflation spiral Capital gains for the 3G spectrum has to be taxed under the IT Act FDI in Insurance and Retail sector Need to revitalise disinvestment program Government should disinvest 10 % in the unlisted PSUs Targeted fiscal deficit is at 3% of the GDP Impetrative
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Chapter 1: Page 20; Questions - 4‚ 7‚ 9‚ 10‚ 11 4) What are the key elements of the scientific method and how does this method relate to economic principles and laws? The key elements of the scientific method are the observation of real world behavior and outcomes. Based on those observations‚ formulating a possible explanation of cause and effect which is a hypothesis. Next‚ testing this explanation by comparing the outcomes of specific events to the outcome predicted by the hypothesis. Then‚ accepting
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10 Principles of Economics Supply and Demand Supply and demand are inversely proportional: When supply rises‚ demand falls. For instance‚ when the housing market in a certain region is flooded with homes for sale‚ sellers drop the price to attract a buyer. However‚ single homes for sale in exclusive neighborhoods might have more potential buyers than sellers. In these instances‚ the price of the home rises. Inflation and Unemployment Gregory Mankiw‚ Harvard Economics professor and author of "Principles
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Market mechanism in economics The main focus of economics is how societies can satisfy their wants as fully as possible‚ given their limited resources for providing the items that satisfy such wants. Amongst many explanations offered‚ market mechanism is more generally defined as the process by which a market provides a solution for allocating resources and making decisions about the quantity of goods and service that should be produced without involving the government. Economics is more commonly
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No Dogs Allowed 1. What economic question(s) does this case require the town to ask? What benefits and services would we provide to the community by building the dog park? Is building a dog park the best use of the undeveloped land? What percent of the population would benefit from building a dog park? 2. List the possible resources that the town would need to construct and maintain the park. Possible resources would include money‚ labor to construct the park and clear out the trees and maintenance
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A Historical Evaluation of Economic Condition of Pakistan Laying the Foundations:1947-1958 Features Predominantly agrarian‚ undeveloped and newly independent nation Little industry‚ few services and no infrastructure Adverse international conditions and precarious domestic situation Attempts of bureaucracy to keep Pakistan on its feet Lack of capital Trade surplus The Decade of Development:1958-1968 Achievements Considerable economic growth and development Significant
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are true Pakistani then you will probably be aware from the main economic problems of Pakistan? Well if not then you must be aware because the solution of all such problems are connected with your bright and successful future. There have been so far huge sum of the problems related to the economic sector that is all the time in the mood of disturbing the economics of Pakistan. Well we cannot blame the entire mistake on the economic monster because the actual culprits are the policies that are infusing
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Economic Systems The way a country’s resources are owned and the way that country takes decisions as to what to produce‚ how much to produce and how to distribute what has been produced determine the type of economic system that particular country practises. 1. MARKET ECONOMY (also called FREE ENTERPRISE ECONOMIES or CAPITALIST ECONOMY) 2. CENTRALLY – PLANNED or CONTROLLED ECONOMY 3. MIXED ECONOMY 1. MARKET ECONOMY in comparison to 2. PLANNED ECONOMY e.g. USA‚ Japan Private firms
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1. Introduction to Economics 1. The Economic Problem Wants and Needs A want is a desire for a good or a service. The desire may be to satisfy hunger or thirst‚ avoid heat or cold‚ be cured of illness‚ be amused or entertained‚ or enjoy that latest product of technology. The item involved may not be within the means of the person who wants it. In economics it is assumed that a person’s wants are unlimited. People are assumed to desire an unlimited array of goods and services. A need is
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Introduction Economic sociology is an attempt by sociologists to redefine in sociological terms questions traditionally addressed by economists. It is thus also an answer to attempts by economists to bring economic approaches – in particular utility maximisation and game theory – to the analysis of social situations that are not obviously related to production or trade. Economic sociology The specific term "economic sociology" was first coined by William Stanley Jevons in 1879‚ later to be used
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