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Question:
Using diagrams where appropriate, describe the concepts of scarcity, choice and opportunity cost.
Distinguish between negative and positive externalities, explain your arguments with appropriate examples where necessary.
Describe the concept of economies of scale and discuss the different sources of economies of scale.
Using demand and supply analysis, illustrate the influence of the imposition of a maximum price and a minimum price on a product on price and quantity.
A coil of inductance 0.04H and resistance 10Ω is linked to a 120V, d.c. supply. Determine (a) The ?nal value of current, (b) The time constant of the circuit, (c) The va
Q. Illustrate neo-classical growth model? The main purpose of another significant growth model, neo-classical growth model, is to explain how it is possible to have a permanent
What causes a demand curve to shift? a. Changes into the Prices of Related Goods Substitutes Complements b. Changes into Income Normal Goods Inferio
Assume the United States has the following consumption information: GDP = Income Consumption
THE PRODUCT MARKET Z=C+I+G C=a+bYd I=Io+I1Y-I2i Equilibrium condition, Y=Z, where Y represents output and Z is aggregate spending. THE FINANCIAL MARKET Md=MT+Mp MT=MTo+MT1Y Mp=Mpo
Can democracy survive if a majority of the citizen pays little or nothing in taxes while benefiting directly from a higher level of government spending? Why or why not?
what is largest business in thailand
Over the last year both the supply and demand for oil in the US has gone up. What might have caused this and what happened to the price and quantity of oil?
Gross Domestic Savings Income not devoted to current consumption is saved. In an economy during a particular year some units will consume less than their income while some wi
The managers of Firm A recommend that Firm A purchase Firm B because the purchase will diversify the business of Firm A. Diversification of risks is a desirable strategy for indivi
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