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Mr. M enters into a contract with Mr. R under which R agrees to build a model railroad for $200. The value of the model railroad to M is $300. Expecting that the model railroad wil
QUESTION Write short notes on any three (3) of the following: (a) National income and the standard of living. (b) Globalization and its implications for developing countr
What are the predictions of Lewis? For Lewis, Harrod Domar is right to emphasise the task of savings and investment although structural change and a new industrial sector are
#question.discuss the contention that the existance of a labour market is characterised by perfect competition is a fallacy.
What is absolute poverty and relative poverty? Absolute poverty: It is an income level below that essential to meet fundamental requirements. The UN measure of absolute
QUESTION 1 (a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this i
what are the factors that affect the volume of production in economy
What is Economic development theory? Economic development theories and models seek to describe and predict how the: • Economies may develop or not over time in excess •
Question #1 A baseball team is trying to predict ticket sales for the upcoming season. They are also considering increasing prices. The market has a population of 2 million persons
What would primary markets look like in absence of secondary markets?
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