Reference no: EM132889392
1. Argue four cases for and fours cases against specialization as a method of production
2. Highlight four features of isoquant curves
3. Enumerate six attributes of money as a medium of exchange
4. Enumerate five sources of external economies of scale
5. Explain the law of variable proportions
6. Enumerate four assumptions underlying the law of variable proportions
7. Identify the sources of diseconomies of scale
8. List three properties of isoquant curves
9. Highlight four salient features of a monopolistic competition market structure
10. Highlight five disadvantages of monopoly market structure
11. Distinguish between perfect oligopoly and imperfect oligopoly
12. Briefly explain the economic effect of the oligopoly market structure in an economy
13. Outline the characteristic of an oligopoly market structure
14. Distinguish between the terms expansion path and price consumption curve
15. Outline four advantages of a controlled market structure