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Factors of Production Factors of production are the resources that are utilized to manufacture goods and services: 1. Natural resources: The things developed by acts of n
Question : (a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether c
Suppose that the short-run world demand and supply elasticities for crude oil are -0.076 and 0.088, respectively. The current price per barrel is $30 and the short -run equilibrium
what are the main properties and assumptions of indifference curve
The benefits of increased openness in trade. Narrowly defined, trade openness is lowering trade barriers - facilitating increased imports - whereas focusing on international ex
1. The total demand (marginal benefit) curve for visiting the Great Barrier Reef is as follows: Price = 5000+100*Fish Biomass (tons per square mile) -10*Number of Trips. a. Do
Use of Resources - INTERNATIONAL MONETARY FUND: IMF provides temporary assistance to member-countries to tide over balance of payments deficits. When the country requires fore
Functions of the ADB: ADB finances principally specific projects in the region. It may make loans to or invest in the projects concerned. It may also guarantee loans granted t
describe engineering cost theory in detail
Moving Average Methods: Under this methods the moving average to the sales of the past years is computed. The computed moving average is taken as forecast for the next year or peri
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