now examine the problem of determining price and output levels in alternative market structures. Market structures are categorized in terms of number of firms or the number of sellers present in the market and whether we are considering a homogeneous or differentiable commodity. We will consider four types of market structures: 1. Pure Competition 2. Pure Monopoly 3. Monopolistic Competition 4. Oligopoly Market classifications from the buyer’s angle are‚ 1. Pure Competition 2. Pure Monopsony
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Role of Banks and Financial Institutions in Economy Money lending in one form or the other has evolved along with the history of the mankind. Even in the ancient times there are references to the moneylenders. Shakespeare also referred to ‘Shylocks’ who made unreasonable demands in case the loans were not repaid in time along with interest. Indian history is also replete with the instances referring to indigenous money lenders‚ Sahukars and Zamindars involved in the business of money lending by
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What is the current role of the BRIC economies in the global economy? Introduction The importance of the BRIC countries to the global economy has increased because of the high economic growth rates in China‚ Brazil‚ India‚ and Russia. A forecast has been made shows that the BRICs would account for 37% of economic global growth during the period 2011-16 which would increase the BRIC share of global output from 19% to 23% (Goldman‚ S. (2004). However‚ the proportion of global output produced
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Ken S. Ewert correctly asserts that free market is not the root cause of sin‚ but rather‚ the origin is a result of Adam’s fall from grace. In opposition to the Christian Socialists belief that capitalism is tyrannical‚ dehumanizing‚ selfish and fosters materialism (Ewert‚ 1989)‚ I concur with Ewert‚ that it is what is in the hearts of those charged with establishing and overseeing economic regulations that determines whether it will benefit or hinder society. The Fall of the Berlin Wall and the
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Public Disclosure Authorized 65980 V I E T N A M D E V E L O P M E N T R E P O RT 2 0 1 2 MARKET ECONOMY FOR A MIDDLE-INCOME VIETNAM Joint Donor Report to the Vietnam Consultative Group Meeting December 06‚ 2011 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Consultation Draft Vietnam Development Report 2012 MARKET ECONOMY FOR A MIDDLE-INCOME VIETNAM Joint Donor Report to the Vietnam Consultative Group Meeting December 06‚ 2011
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Journal of Macroeconomics 25 (2003) 109–122 www.elsevier.com/locate/econbase Forward premiums and market efficiency: Panel unit-root evidence from the term structure of forward premiums John Barkoulas a‚b‚ Christopher F. Baum Atreya Chakraborty d a c c‚* ‚ Department of Economics‚ The University of Tennessee‚ Knoxville‚ TN 37996‚ USA b Athens Laboratory of Business Administration‚ Vouliagmeni‚ Greece Department of Economics‚ Boston College‚ 140 Commonwealth Avenue‚ Chestnut Hill‚ MA 02467-3806
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contributing the lion’s share. Good physical connectivity in the urban and rural areas is essential for economic growth. Since the early 1990s‚ India’s growing economy has witnessed a rise in demand for transport infrastructure and services. However‚ the sector has not been able to keep pace with rising demand and is proving to be a drag on the economy. Major improvements in the sector are required to support the country’s continued economic growth and to reduce poverty. Railways. Indian Railways is
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Free Markets: Why Governments Intervene Free markets have often been idealized in the US‚ and have become a dominant tool for trade and distribution of goods and services. There have been multiple waves of government regulation and deregulation of the market in US history. Each of these trends have been grappling with the central question of how sufficient markets are at satisfying our goals. In theory‚ free markets are fair and efficient at distributing goods and services. In reality‚ however
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Indian Railways. This also creates impact on the Indian Economy. This article deals with how Indian Railways impact the Economy of India or the impact of Indian Railways on the Indian economy. India is a land of diverse culture as well as religion. In different parts of India‚ one can find totally different tradition and cultural variations. To promote national integration and concentrate the cultural diversity‚ the Indian Railways plays a vital role that also fulfills the transportation needs of the
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more efficient‚ “friction-free” markets. The Emerging Role of Electronic Marketplaces on the Internet Markets play a central role in the economy‚ facilitating the Yannis Bakos exchange of information‚ goods‚ services‚ and payments. In the process‚ they create economic value for buyers‚ sellers‚ market intermediaries‚ and for society at large. Recent years have seen a dramatic increase in the role of information technology in markets‚ both in traditional markets‚ and in the emergence of
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