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QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) What is market failure and why does it occur in an economy? (c) Differentiate, us
What is the social capital? Social Capital: Social capital is related with Putnam: Social capital considers to as features of social life as networks, norms and trust whi
Find quantity supplied and quantity demanded: Suppose there are 300 used cars, with 3 quality levels: bad, medium, and good. A seller knows the quality of his car but a buyer
I have exam in economics
What is meant by the term managing expectations? Why is expectation management a significant part of the project manager’s job? What affects a customer’s expectations? We all h
Question 1: (a) Explain, giving examples, the law of diminishing returns, clearly bringing out the relationship between cost curves and product curves in the short run. (
why does the quantity of salt demanded tend to be unresponsive to changes in its price?
QUESTION On a dark day, a train carrying more than 25 propane tankers derailed and began to burn. Upon arrival at the scene and conducting an initial size-up, the incident comm
A sample of 58 mutual funds was taken and the mean return in the sample was 14% with a standard deviation of 9.3%. The return on a particular index of stocks (against which the mut
What is the difference between absolute and comparative advantage? Difference between absolute and comparative advantage: • Absolute advantage arises while a country or reg
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