Explain the first-order condition of sufficiency of consumer, Explain the f...

Explain the first-order condition of sufficiency of consumer. Sufficiency of Consumer’s First-Order Conditions This first-order condition is merely essential conditions for

What is probability and its types laws, #question.what is probability and l...

#question.what is probability and laws

Determine the harrod-domar model, What barriers to economic growth can be e...

What barriers to economic growth can be explained using the Harrod-Domar model? Definition and outline of the Harrod-Domar model; growth in national income = savings ratio over

Chamberlins alternative approach, thoery explanation

thoery explanation

Unemployment, Unemployment: Individuals who want to be employed, and are ac...

Unemployment: Individuals who want to be employed, and are actively seeking work, but can't find a job, are considered ‘officially' unemployed. Individuals who aren't working, but

Are markets the best way of solving the economic problem, Are markets the b...

Are markets the best way of solving the basic economic problem? Justify your answer. The core of the economic problem ( who, what, for whom) is something all societies must add

Advantages and disadvantages of a monopoly market, Problem 1: i) ‘There...

Problem 1: i) ‘There is a trade-off between inflation and unemployment.' Do you agree with this statement? Justify your example using appropriate diagrams. ii) Mauritius is

Participation in global system of production, Participation in Global Syste...

Participation in Global System of Production: As national economies are getting more inter-linked, the share of foreign components in most manufactured products is progressiv

Describe what is meant by cross elasticity of demand, Question: (a) Wit...

Question: (a) With the help of diagrams, explain how the price and quantity demanded or supplied of fuel will change under the different scenarios: (i) Consumers expect a fu

Cross Price elasticity,