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Define the tools of Competitive market.
Competitive market:
The supply and demand model
a. The demand curve
b. The supply curve
c. Factors which cause the demand curve to move, and factors which cause the supply curve to move
d. The equilibrium price
e. How the equilibrium price changes while the supply and demand curves move
explain how national income is determined under the following economies; 1.frugal economy 2.governed economy
(A) What is the difference between a movement along a demand or supply curve and a shift of one of these curves? Why is it important to distinguish between the two? What mistake
For an interest rate of 12% per year compounded continuously, find (a) the nominal rate per year, (b) the nominal rate per quarter, (c) the effective rate per quarter, and (d) the
What is the opportunity cost of economic growth? Opportunity cost measures the cost of an economic option within terms of the next best option foregone. The government of a
The aim of this task is to explore the effects of a supply shock on a firm and thereby on the industry. Suppose that war breaks out in the Middle East, where a considerable portion
what is the relationship betwen growth and poverty? either it is positive or negative?
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Do neoclassical economists view prices and wages as stickly or flexible
Q. Determine the Exchange rate? Exchange rate is determined by the ratio of domestic price level to the foreign price level. If, for instance domestic prices increase by 10% wh
what reasons limit the bargaining power of trade union in developing countries
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