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QUESTION Explain the relationship between scarcity, choice and opportunity cost. "In a capitalistic system, Consumer Sovereignty is the key". Explain and discuss this sta
What are the import substitution policies? Import substitution policies are as follows: Need trade restrictions for example, tariffs and quotas to defend infant industr
Does the work of the International Monetary Fund and World Bank overlap? Less developed countries turn to the: • International Monetary Fund to resolve debt repayment, exch
Mr. M enters into a contract with Mr. R under which R agrees to build a model railroad for $200. The value of the model railroad to M is $300. Expecting that the model railroad wil
What does Rostow predict? For Rostow: • Savings and capital accumulation (formation) are central to the procedure of growth therefore development • The solution to de
Define three methods than could be utilized to exercise quality control and describe the advantages and disadvantages of all. Methods comprise: • Self-checking: Rapid, ch
What is the difference between real and nominal Gross Domestic Product? National Income consists of a price and a quantity element. When the price level doubled along with simi
In AS/AD model monetary polices is seen to working primly through its effect on interest rate. There are some example to understand to interest policy impact on exchange rate an
As selling is an ‘asking process’, how you could use this to assist you sell some further functionality to a system under development? When we use the buying cycle like a guide
I have exam in economics
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