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Define the planned or command economy system. Planned or command economy: Resources are owned through the state. The state assigns resources, and sets production goals a
Explain critics of the International Monetary Fund argue. Critics of the International Monetary Fund (IMF) argue: • The IMF is suffering through mission creep and requiremen
Why are markets considered as unsuitable for promoting development? The process of establishing a market system frequently includes radical reform which produces both winners
compute the opportunity cost
Managerial economics is the discipline which deals with application of "economic theory to business management" Discuss
Question 1: (a) "Money demand is inversely related to interest rates and is stable over time." Discuss the theoretical and empirical validity of this statement. (i) Analyse
the basic assumption of the static model
In your own words, describe the meaning of average cost. You normally buy a crate of wine for $75. One crate has 6 bottles of wine. After a month, the store clerk informs you that
Discuss how income flows in governed economy
A businessman invested $ 4000.00 as his fixed cost in a new venture that produces batteries. Each of these batteries cost $150.00 to manufacture and he sells each battery for $180.
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