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QUESTION 1 (a) Explain the relationship between scarcity, choice and opportunity cost. (b) How is choice about the use of scarce resources made in a market economy? QUES
Why do state approaches work into promoting development? State planning and intervention is desirable due to the shortcomings of markets. The approaches range of state through
Assume the firms cost function is: C(Q)= 100+10Q+Q^2 , Determine whether this industry is a natural monopoly when the demand function is: 1) D(P)= 100-3P 2) D(P)= 90-3P 3) D(P)= 10
Define economies grow of less developed countries by developing its secondary sector. Less developed countries economies grow by developing its industrialising: Manufacturi
Question 1 (9 marks) During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets a
QUESTION 1 (a) Explain clearly the various sources of Industrial Law (b) The mutual consent of the contracting parties is required for a contract of employment to be valid, but
How can trade Liberalisation mean eliminating barriers? Trade liberalisation is the removal of trade restrictions for example tariffs, quotas and non-trade barriers is unsynch
Consider the following model: Y*i= β 0 X t β 1e U t a) Using the stock adjustment model, estimate the short-run and long-run elasticities b) Comment on the following pr
How much power or influence does a U.S. President versus a CEO actually have when it comes to job creation or the choice to manufacture company goods in a foreign nation?
the basic assumption of the static model
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