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Essay

ECONOMY

Essay specific features

 

Issue:

Business

 

Written by:

Patrick R

 

Date added:

July 8, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 309

 

Was viewed:

5635 times

 

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Essay content:

And by using these minimal resources they have to address very many needs of society. ECONOMICS IS BASED ON SOME ASSUMPTIONS: 1) Resources are limited. 2) Multiple choices or alternatives are there in the market. 3) All the choices are equally attractive. Optimization is every body’s choice. i...
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i.e. MAXIMUM utility, profit, output, satisfaction etc and MINIMUM loss, cost, dissatisfaction, etc. GNP: Is a Gross National Product, all goods and services that are produced in a country over a given period of time. GDP: Is a Gross Domestic Product, all goods and services that are domestically produced excluding import and export...
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