4. MARKET FAILURE AND GOVERNMENT INTERVENTION
MARKET FAILURE: Market failure is a situation in which the free market leads to misallocation of society's scarce resources in the form of either overproduction or underproduction of particular goods and services leading to a less than optimal outcome. Reasons for the Market Failure: There are four major reasons for market failure. They are:
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mastermindsindia.comCA COURSE MATERIAL Quality Education beyond your imagination OR FALSE STATEMENTS 37E (NEW EDITION THOROUGHLY REVISED & UPDATED UPTO NOV 2016. APPLICABLE FOR MAY
1. NATIONAL INCOME ACCOUNTING
mastermindsindia.com1. NATIONAL INCOME ACCOUNTING Q.No.1. Define National Income. (A) National Income is defined as the net value of all economic goods and services produced within the domestic territory of a country in an accounting year plus the net factor income from abroad.
2. THE KEYNESIAN THEORY OF DETERMINATION OF …
mastermindsindia.com2. THE KEYNESIAN THEORY OF DETERMINATION OF NATIONAL INCOME Q.No.1. Define Keynes concepts of equilibrium aggregate Income and output in an economy. (A) The British Economist John Maynard Keynes in his masterpiece ‘The General Theory of Employment Interest and Money’ published in 1936 put forth a comprehensive theory on the determination of
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