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Problem:
i) Differentiate between economic development and economic growth.
ii) Describe carefully how, using the expenditure approach, national income is calculated.
iii) Critically analyse the different measures of economic development.
iv) Describe using diagrams why a 10% increase in investment leads to a higher percentage increase in National Income?
The most fundamental economic problem is scarcity.
The demand curve for gasoline is P = 200 - 10Q. a. Find the elasticity of demand for a quantity of 8. Does this number imply that quantity demanded is sensitive to price change
What is Demand Forecasting? Explain in brief various methods of forecasting Demand.
The demand for every productive resources is a derived demand. By derived demand it is meant that it is the output of the resource and not the resource itself for which is a deman
differance between capitalism and socialism
TYPES OF POLLUTANTS In general the air pollutants can be sub divided into 2 catexampleories: Primary pollutants and Secondary pollutants Primary pollutants These are the poll
Time is a significant determinant of price elasticity. If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to ac
what are the uses of elasticity to the private sector
Solve equation P=200-Qs and Qs=4.5p +5
what are the microeconomic encompasses
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