Price Elasticity of Demand along Demand Curve 31 13. Cross Elasticity of Demand 32 14. Income Elasticity of Demand 33 15. Price Elasticity of Supply 34 16. Elasticity Summary 35 17. Indirect Taxes and Subsidies 38 18. Labour Markets 41 SECTION B – MARKET FAILURE 19. Market Failure 45 20. Externalities 46 21. Externalities Diagrams 47 22. Merit and Demerit Goods 49 23. Missing Market:
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economy. Its dollar GDP has quadrupled and its exports almost quintupled. Foreign direct investment increased to 13.5% from 9.7% worldwide. America became China’s single biggest trading partner. The entry in WTO has contributed to the economic development of the China. In terms of global trade, consumers everywhere benefitted from cheap Chinese goods. Chinese growth has created a huge market for other countries’ exports. WTO entry has promoted China's foreign trade system reform and the decentralization
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on the overall economic development of almost all major sectors of the economy, and its effects over the last decade can hardly be overlooked. Besides, it also marks the advent of the real integration of the Indian economy into the global economy. This era of reforms has also ushered in a remarkable change in the Indian mindset, as it deviates from the traditional values held since Independence in 1947, such as „self reliance” and socialistic policies of economic development, which mainly due to the
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RISK AND RISK MANAGEMENT OF RURAL AND AGRICULTURAL FINANCE (MD. IBRAHIM KHOLILULLAH, DEPT OF AG.FINANCE, BAU MOB: 01718996557) INTRODUCTION When discussing rural finance in Bangladesh, the foremost issue that merits mention is that loans to agriculture are generally offered only by specialized agricultural banks, since commercial banks and microfinance institutions largely refrain from financing the sector. There are many reasons for this, the most important of which is that this finance is strewn
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Free Trade Area of the Americas Free Trade Area of the Americas Introduction There are many different regional blocs around the world such as the current one effecting North America called North American Free Trade Agreement (NAFTA). Another trade agreement that has been under hot debate is the Free Trade Area of the Americas (FTAA), which further extends the NAFTA to include other countries from Latin America, Central America, and the Caribbean
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Special articles Power Politics Process of Power Sector Reform in India Power sector policy in India appears to have locked itself into adverse arrangements at least twice in the recent period. The first was when agricultural consumption was de-metered and extensive subsidies were offered; the second when Independent Power Producer contracts with major fiscal implications were signed by the State Electricity Boards. A third set of circumstances, with the potential for equally powerful forms of
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This paper would explore the appropriateness of government intervention in the economy, which is a highly debatable topic. For example, free market economists would argue that there should be a strict limitation on government intervention as it often leads to an inefficient allocation of resources. However, many might argue that government intervention is necessary in different fields (Pettinger, 2012). The appropriateness of government intervention will be evaluated by considering its implications
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losses for importers of perishable goods. Nigeria uses nontariff measures to achieve self-sufficiency in certain commodities under its backward integration program Consequences of Trade Restrictions A combination of tariffs, quotas, and subsidies can serve economic, and sometimes political, objectives, but they can also impose significant costs. Tariffs or quantitative restrictions protect domestic industries and workers from foreign competition by raising the prices of imported goods. In
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non-tariff barrier which is used for the developed countries to protect their production and economic development in recent years. The main forms of green barriers include green tariff and market access, green packaging and labeling requirements, green technology standards, Green health inspection system, environmental costs and green subsidy system (China west products, 2011). China’s agricultural, mechanical and electrical products are all facing green barriers, such as pollution, noise, safety standards
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in October of 2011 and a record low of - 592200.72 NGN Millions in March of 2011. The National Bureau of Statistics, Nigeria, accounts for parity of Trade in Nigeria. Fares of items (oil and common gas) are the primary element behind Nigeria's development and records for more than 91% of aggregate fares. In 2014, Europe and Asia were the nation's primary exchange accomplices. Europe represented 43% of aggregate deals and 34% of aggregate imports while Asia represented 29% of aggregate shipments and
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