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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 ...
On 12 April 2018, the police said that Rakesh Kumar, who leaked the class 12 economics paper, had leaked class 10 mathematics paper also. [40] Consequently, the Central Board of Secondary Education has put in place a system of "encrypted" question papers, which are supposed to be printed by the schools half an hour before the exam starts. [41]
The solution to these problems is important because of the "fundamental fact of economic institution life" that ... [ 2 ] "The economic problem, "the struggle for subsistence", always has been hitherto primary, most pressing problem of the human race- not only of the human race, but of the whole of the biological kingdom from the beginnings of ...
Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the market mechanism .
The 2024 CBSE board examination for Class 10 were held from 15 February till 11 March and from 15 February till 2 April for class 12. The usual starting time for each exam was 10:30 am but depending on the length and/or maximum marks for the subject, the finishing time was either 12:30 pm (2 hours, shorter exams, usually 40-50 marks) or 1:30 pm ...
In law and economics, the Coase theorem (/ ˈ k oʊ s /) describes the economic efficiency of an economic allocation or outcome in the presence of externalities.The theorem is significant because, if true, the conclusion is that it is possible for private individuals to make choices that can solve the problem of market externalities.
The first is the only solution in the interior of the upper quadrant. It is a saddle point (as shown below). The second is a repelling point. The third is a degenerate stable equilibrium. By default, the first solution is meant, although the other two solutions are important to keep track of. Any optimal trajectory must follow the dynamical system.
In economics, the free-rider problem is a type of market failure that occurs when those who benefit from resources, public goods and common pool resources [a] do not pay for them [1] or under-pay. Free riders may overuse common pool resources by not paying for them, neither directly through fees or tolls, nor indirectly through taxes.