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Balance of payments account:
The foreign exchange market is an organizational setting within which individuals, business firms, banks etc buy and sell foreign currency. It has no centralised meeting place and not limited to one country.A fixed exchange rate regime is where the external value a country’s currency is determined by explicit government policy and fixed at a certain amount of the domestic currency per unit of foreign currency.
Periodic changes in the exchange rate by government are described as devaluation or revaluation Devaluation refers to the deliberate reduction in the external value of a domestic currency. On the other hand, revaluation is a deliberate increase in the value of a country’s currency relative to other currencies.
Production Process: Production is a process that transforms factors of production or inputs into output of goods and services. Production may be classified into extraction, ma
what are the benefits of natural resources and industryquestion..
This firm will maximize profits by producing the level of output that corresponds to point: a. b. c. or d. ?? Refer to Figure for a perfectly competitive firm. Given the
Define the term “cross elasticity of demand” (2 marks) Price of commodity X (SH) Demand for commodity X (Units) 12 80 16 100 20 120 24 140 28 160 d) The following data relate to a
The process of production needs several inputs. These inputs are known as the factors of production. In most cases, firms own some of the factors of production while some have to b
Economists view depreciation as capital consumption for them, there are two distinct ways of charging for depreciation (1) the depreciation of equipment must equal its opportunity
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differential rents..
GDP Growth, Employment and Poverty: The advocates of economic reforms point out that the reform process has the potential of accelerating economic growth. After the teething t
define opportunity cost and how it is useful in managerial decision making?
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