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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
#question.what is probability and laws
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
thoery explanation
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 basic economic problem? Justify your answer. The core of the economic problem ( who, what, for whom) is something all societies must add
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: As national economies are getting more inter-linked, the share of foreign components in most manufactured products is progressiv
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
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