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Transformation problem: The transformation problem is the problem specific to Marxist economics, and not to economics in general, of finding a general rule by which to transform the values of commodities based on socially necessary labour time into the competitive prices of the marketplace. The essential difficulty is how to reconcile profit in ...
NCERT's director Hrushikesh Senapaty highlighted that students must have time to engage outdoor. The syllabus of Social Sciences, which covers History, Geography, Political Science, and Economics, had 24 chapters in Class IX as compared to 15 each in Science and Mathematics. Similarly, Class X Social Sciences had 28 chapters as compared to 16 ...
In both classical and Keynesian economics, the money market is analyzed as a supply-and-demand system with interest rates being the price. The money supply may be a vertical supply curve, if the central bank of a country chooses to use monetary policy to fix its value regardless of the interest rate; in this case the money supply is totally ...
Supply-side economics is a macroeconomic theory postulating that economic growth can be most effectively fostered by lowering taxes, decreasing regulation, and allowing free trade. [1] [2] According to supply-side economics theory, consumers will benefit from greater supply of goods and services at lower prices, and employment will increase. [3]
In microeconomics, substitute goods are two goods that can be used for the same purpose by consumers. [1] That is, a consumer perceives both goods as similar or comparable, so that having more of one good causes the consumer to desire less of the other good.
It also provides up to 9% of the daily manganese needs for adults, an essential mineral critical for bone health, and about 11% of the daily needs for pantothenic acid (vitamin B5), which plays a ...
Public goods game, a standard of experimental economics; Public works, government-financed constructions; Privileged group; Tragedy of the commons; Tragedy of the anticommons; Rivalry (economics) Quadratic funding, a mechanism to allocate funding for the production of public goods based on democratic principles
The world’s biggest food and beverage companies on average sell products in low-income countries that are less healthy than what they sell in high-income countries, according to a new report.