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Saturday, February 11, 2012

Benchmark Pointers for Midterm Examination in Basic Economics with Taxation and Land Reform

Personal distribution

Functional distribution

Market models

Single or sole proprietorship vs. Partnership

Corporation vs. Cooperative

Costs of production

Causes of income inequality

Determinants of wage rate

What are the needs? Household needs

National Income

Gross National Product (GNP)

Gross Domestic Product

Real wages

Disposable income

Wage

Final goods and services

Social usefulness

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