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Functions of Money Money performs several important functions. It serves as a medium of exchange, a unit of account, a store of value and a standard of deferred payments. In a
GROWTH OF EMPLOYMENT OPPORTUNITIES: Policy failure refers to situations: i) When the objectives of public policy are attained partially or inadequately or in a distorted
merits and demerits of monopsony
You have decided to sell some goods at a local music festival. You have hired a sales stand for $500. Your cost per item is $3 and you will sell each item for $5. When you did your
What are the factors that producers in the society may take into consideration when deciding on the what to produce,how to produce and for whom ?
price falls and demand is elstic
Australians are turning to scooters to combat escalating petrol prices. After a slump in the March quarter this year, demand for scooters was up by more than 7 per cent in the firs
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Explain why each of the following factors may influence the own price elasticity of demand for a commodity. The narrowness of the definition of the commodity
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