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Problem: i) Evaluate the following statement: "The First Theorem of Welfare Economics states that as long as producers and consumers act as perfect competitors and there ar
Define the difference between effort and elapsed time. What is the importance of this difference for project planning purposes? Effort is the whole volume of work included in a
Is population growth a problem? Quick population growth is a main cause of poverty and arises where population growth go beyond the rate of economic growth. Standards of liv
how does the effect of inflation affect the spending ability of fixed income earners
What factory overhead expenses are involved?
How can be comparative advantage improved? Comparative advantage can be gained or improved through: • Investment during the education and also in training • Investment wi
What are the characteristics of growth in developed countries? Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below: • Gross
uses of discounting principals
explain the role scarcity of resources plays in economic decision making
Is the Washington Consensus actually a consensus? The Washington agreement thinking dominates development thinking in the developed world but is challenged through less develo
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