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Question 1 Explain the law of diminishing returns. What are its causes and effects? Question 2 Compare perfect and imperfect markets Question 3 A monopolist with a linea
QUESTION (a) Distinguish between monetary and fiscal policy, giving examples where appropriate. (b) Discuss how fiscal and monetary policies might be used by a government du
How do economists differ from accountants in the use of the term profit ? Definition of rev and accounting costs Explanation/outline of opportunity costs, for example
What are the characteristics of the informal sector? The characteristics of the informal sector comprise: • working for yourself quite than an employer, • Small scale ent
how does income flow in a governed economy
how the concept of elasticity used for policy formulation
WHAT are relationship between them showthese relitionship with the help of digram also state relitionship between AR MR & TR.
why does the quantity of salt demanded tend to be unresponsive to changes in its price?
What is factor endowment problem? Factor endowment Problem: Several LDCs have a poor factor endowment than productivity and incomes both are very low according to world
Explain the mixed economy system. Mixed economy: Several resources are owned through the public sector (government) and several resources are owned through the private sector o
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