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Problem 1:
i) ‘There is a trade-off between inflation and unemployment.' Do you agree with this statement? Justify your example using appropriate diagrams.
ii) Mauritius is actually facing a problem of high unemployment. What measures can be taken to remedy the situation?
Problem 2:
i) What do you meant by the term ‘economic efficiency'?
ii) A perfectly competitive firm is better than a monopolistic firm in terms of economic efficiency. show
iii) What are the advantages and disadvantages of a monopoly market?
•Create a demand schedule and a supply schedule for your product.. •Using these schedules, draw a demand curve and a supply curve using PowerPoint or Excel. Use these to determine
Socialist Economy: The material means of production are owned by the whole community represented by State under socialist form of economy. All members have equal right in the benef
What does the basic neoclassical, or traditional, model of economics assume about markets? It supposes that markets are perfectly competitive and smoothly functioning, and thos
What is the role of profits in a market economy? Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-al
haberlers cost theory
ed=1 means p
You should find two articles, of which one should report on changes that make farming more productive (more food per acre, hour or other unit of inputs), and another about changes
Public Administration: According to L.D. White, "Public administration consists of all those operations having for their purpose the fulfillment or enforcement of public polic
show this in a pie chart age = under 20|number of people = 20.90
Wealth: This is a stock of accumulated purchasing power stored up from the past. For example, if you have a fat savings account accumulated from your past earnings, your curre
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