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Distinguish among the terms of trade and the balance of trade for a country. Definition of terms of trade a) The amount of a given amount of export goods essential to buy
compare and contrast adam smith''s theory of absolute advantage theory and david ricardo''s comparative advantage theory of international trade.
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
Ben prefers the mixed consumption basket x+y to either 2x alone or 2y alone. But as between the latter baskets, he would rather have the 2x. Do the fact stated indicates the axiom
Assume that you have a client that is a paper manufacturer and they have expressed concern that the government will pass a new regulation banning the use of chlorine based technolo
What does economic theory contribute to managerial economics? Explain
what is le''chatliers principle?
(i) Define the three types of price discrimination, clearly stating the different information requires of each type of discrimination. (ii) Find a real-world example of second-degr
#q The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
#i need more light about it..
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