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Define the planned or command economy system.
Planned or command economy:
Resources are owned through the state. The state assigns resources, and sets production goals and growth rates as per its own view of people's requirements. Income distribution is decided through the state. Prices play small or no part into informing resource allocation decisions as well as queuing rations scarce goods.
Analytical Hierarchy Process - Supplier Selection Supplier selection is a multi-criteria decision-making problem that the selection process mainly involves evaluating a number
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What is meant by the term value tree? Value Tree: A value tree gradually decomposes the overall objectives of a project within more exact objectives which can be agreed through
constraints
QUESTION (a) In several countries recently, many people have become unemployed. Analyse the different types of unemployment in an economy. (b) Define inflation and explain i
law of variable propotions
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Explain, using the example of museum visits, own price, cross-price and income elasticity of demand; consider own price elasticity for various demographic groups. Use diagrams wher
business environment
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