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Sia ? 6 years ago
A quota is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period. Countries use quotas in international trade to help regulate the volume of trade between them and other countries.
Posted by Rudey Gaming 6 years, 1 month ago
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Gaurav Seth 6 years ago
| Meaning | A branch of economics based on data and facts is positive economics. | A branch of economics based on values, opinions and judgement is normative economics. |
| Nature | Descriptive | Prescriptive |
| What it does? | Analyses cause and effect relationship. | Passes value judgement. |
| Perspective | Objective | Subjective |
| Study of | What actually is | What ought to be |
| Testing | Statements can be tested using scientific methods. | Statements cannot be tested. |
| Economic issues | It clearly describes economic issue. | It provides solution for the economic issue, based on value. |
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The year 1921 is a “year of the great divide” in the demographic history of India when mortality started to decline leading to acceleration in the rate of population growth (the second stage)
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