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Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
Comparison with Other Countries: The basic purpose of this type of comparison is that: (i) it helps us to know the potentials of growth that can be built up in an economy,
A control in economics means a steady profit rate that is enhancing. Thus, after one year you could have £1mill profit then the next year £3mill profit etc.
Performance of Public Sector Enterprises: Data reveal that the performance of the much-maligned public enterprises has shown a distinct improvement during the last 9 years. Gr
Problem 1: (a) Differentiate between positive and negative externalities? Justify your answer using examples. (b) To what extent do government policies influence externali
Difficulties in Measuring Cost 1) Output data may represent an aggregate of different type of products. 2) Cost data may not include opportunity cost. 3) Allocating c
elasticity of demand of a product in different market forms such as perfect competition, monoply etc.
Isoquants * Assumptions - Food producer has 2 inputs Labor (L) & Capital (K) * Observations: 1) For any level of K, output increases with L. 2) For any
Supply and demand for a given type of MP3 player are given by the following equations: P=980-1.5Qd P=20+0.9Qs
advantages and disadvantages
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