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  Applied Economics Raffi Manzoor Applied economics is a field that applies of economic theories and principles to real-world situations with the desired aim of predicting potential outcomes. The use of applied economics is designed to analytically review potential outcomes without the "noise" associated with explanations that are not backed by numbers. Applied economics can involve the use of econometrics and case studies. ADVERTISEMENT HERE 👇👇👇 Apply for a decent Job Because economics relies on the interpretation of historical events in its theories, applied economics can lead to "to do" lists for steps that can be taken to ensure stability in real-world events. Although applied economics uses economic theory and principles, it is itself not a field of economics, such as neoclassical economics or the Austrian school. The use of applied economics may first involve exploring economic theories to develop questions about a circumstance or situation, and then draw u

  The Firm and the Market The struggle for survival tends to make those organisations prevail, which are best fitted to thrive in their environment, but not necessarily those best fitted to benefit their environment, unless it happens that they are duly rewarded for all the benefits which they confer, whether direct or indirect. Alfred Marshall, Principles of Economics, considered the economic problem of the firm in splendid isolation. The firm received signals (prices of inputs, prices of outputs) from the outside world and responded blindly with perfectly calculated optimal quantities. The demand for inputs and the supply of output pertained only to the behaviour of this single economic actor. It is now time to extend this to consider more fully the rÙle of the firm in the market. We could perhaps go a stage further and characterise the market as the industryî, although this arguably sidesteps the issue because the definition of the industry presupposes the definition of specific com

  Perfect competion Is a market structure in which uniform price is charged for every unit of a good. Assumptions of perfect competition a. Homogeneous product b. Large numbers of buyers and sellers c. Free entry and exit d. Free mobility of factors of production e. Perfect knowledge Firm equilibrium in short run under perfect competition There are two ways for firm equilibrium a. Total revenue and total cost approach b. Marginal revenue and marginal cost approach Explanation a.TR and TC Approach According to this approach a firm will be in equilibrium when the difference between total revenue and total cost is maximum and firm will select the that level of output where difference is maximum. b . MR and MC Approach According to this approach a firm will be in equilibrium where the MR is equal to MC. There are two conditions for firm equilibrium i) Necessary condition MR=MC ii) Sufficient condition At equilibrium point slope of MC must be greater than slope of MR, in other words MC must

Click on below link or green text to start your class test.  Exam type : Class test Subject : Mathematics Class : 8th Time allowed : 20 minutes Start time : 09:15pm (09/02/2021)  Total Marks : 10 Click on below link 👇👇👇 Let's start your mathematics test here ............👆👆👆

Start you class test for Mathematics by clicking on below link or GREEN TEXT.  The class test will start exactly at 8:20 pm ( 14-01-2021)  You are given 20 minutes to answer 10 MCQs each question carry one mark. There are 10 marks for 10 questions.  Click on the below green text 👇 CLASS 8th MATHS Link for Online MCQ class test CLASS 7th MATHS.    ➡▶▶  MCQ class test, Class 7th MATHS.

While Keynesian economic hypothesis was being applied in a large portion of the world's significant economies, the new idea of microeconomics, spearheaded by Marshall, was additionally grabbing hold in economic circles. The investigation of more modest, more engaged parts of the economy, which beforehand were not given significant significance, was quick turning into an indispensable piece of the whole economic picture. ( For additional knowledge, see: How Influential Economists Changed Our History.)  Microeconomics had useful appeal to economists since it tried to comprehend the most essential hardware of an economic framework:  consumer decision-making and spending patterns, and the decision-making processes of individual businesses. The investigation of buyer Decisions  uncovers how the cost of items and administrations influences request, how purchaser fulfillment – albeit not correctly quantifiable – works in the dynamic cycle, and gives helpful data to organizatio

  CONGRATULATIONS 🎉🎊🎁 to Mr. Abdul Shakoor Itoo  from Vessu-Quzigund area of South Kashmir. District Anantnag. He scored 107.25 points out of 120 points and became the topper of kashmir.  We again congratulate you.