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Q1. Scott is a woodworker also charges $125 an hour for his time manufacturing custom-made wood products. For his wife's birthday, he designs also creates an intricate bird's eye maple jewelry box to takes him 15 hours to complete. By Elucidate how much also in Illustrate what direction does GDP change as a result of his efforts?
Q2. Assuming fuel is one of the main input for many sectors. When a war breaks out in Country A, that is the main producer for fuel in the world, it causes fuel supply disruptions in the word. Converse the market equilibrium for fuel also car after the war outbreak.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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