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how economics useful for businesses
Question 1: (a) Clearly distinguish between the theories of Absolute and Comparative advantage of trade. (b) According to you, can the ‘Factor Endowment Theory' be a reaso
QUESTION (a) Explain the real business cycle theory. (b) Using appropriate diagrams differentiate between inflationary and deflationary gaps. (c) Differentiate between th
QUESTION (a) Explain the law of demand and the factors affecting demand. (b) Explain and illustrate how demand of a commodity will change if there is a tax on that product.
Equation (1) gives a hypothetical demand curve for hybrid vehicles in the United States during the year 2000, where Q is the quantity demanded and P is the price. Equation (2) giv
How does macro-economic stabilisation assist growth? Economic agents as the consumers, private zone and overseas investors as like multi nationals make decisions based onto co
Are patterns of trade a problem? Generalising Less Developed Countries have a comparative advantage into primary products and employment intensive manufacturing; Developed Cou
explain how inflation could reduce the efficiency with which prices allocate resources.
What is Unbalanced Growth theory? Unbalanced growth shares analysis along with balanced growth theorists which free markets cannot produce development. Planning of government
What is dual economy and development in an economy? Development in an economy: Differentiated or uneven development arises while the benefits of growth are not shared ev
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