There are two basic types of metamorphic rocks. Foliated metamorphic rocks such as gneiss, phyllite, schist, and slate have a layered or banded appearance that is produced by exposure to heat and directed pressure.
Image by Picture Taking Fool. Industrial Economics is the study of firms, industries, and markets. It looks at firms of all sizes â from local corner shops to multinational giants such as WalMart or Tesco. And it considers a whole range of industries, such as electricity generation, car production, and restaurants.
In the short run, economic theories are based on the assumptions of given resources and technology. ADVERTISEMENTS: These assumptions relate to a static economy where there is movement but no change. But in the long run, labour, capital and other resources and technology are assumed to change in certain theories. They relate to a dynamic economy. However, most economic theories are based on the assumption of a static economy.