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(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
Question 1 Explain the law of diminishing returns. What are its causes and effects? Question 2 Compare perfect and imperfect markets Question 3 A monopolist with a linea
Are the terms of trade (ToT) a problem? Problem : The terms of trade (ToT) of a country fall when its import prices rise quicker than the price of its exports. Less Developed
What are development policies? Development policies are strategies adopted through governments, international agencies as like the IMF and non-government organisation (NGOs) a
Question 1 ‘The consumer is always king in the market place'. Critically examine this statement, highlighting the existence of market imperfections. Question 2 (a) Dis
How can the role of government in development be assessed? Increasingly governments are judged through the outcome of their policies within achieving above average development
What is the function of multinational companies into the promotion of development? A multinational or transnational (TNCs) company operates within two or more countries across
What is the function of the International Monetary Fund, in the promotion of development? The International Monetary Fund (IMF) is the central institution of the international
how does occupation affect the size of labour force
who is the proponent of theory of economic rhythm?
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