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what is diversification
The law of supply is that producers will supply more the higher the price of the commodity. The supply curve is an upward sloping function showing a direct relationship among pric
What is Economic Theory? An economic theory that can be considered an axiomatic approach comprise a set of assumptions and circumstances, an analytical framework and explanatio
Explain how normal profit and abnormal profit differ. Normal profit (breakeven) - which must contain commentary on the inclusion of opportunity costs. Abnormal profit should be
law of diminishing returns
different types of production funtion and curve given by different economist
Define Disposable Incomeand dumping Disposable Income : The amount of income left after as deductions as income tax, pension contributions and national insurance. More genera
Definition and graph of centralized cartel
U+v, UV, u/v
PEST analysis Political factors: The political factors include laws and regulations in the market and this influences the market activities. These laws and regulations a
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