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a consumer consumes only two goods x and y is in eqillibrium price of x falls explain the reaction of consumer through utility analysis
Explain the Demand Pull Inflation Demand Pull Inflation: Occurs when aggregate demand exceeds aggregate supply. If there is an excess level of demand in the economy, this w
Market research has revealed the following information about the market for chocolate bars: The demand schedule can be represented by the equation QD= 1,600-300P, where QD is the q
(a) Differentiate between a command economic system and a laissez-faire. (b) Assess to what extent it is advantageous for an economy when it moves from a controlled to a free-e
what is the purest form of iron?
Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production). Production: Process by which human labour
1. Describe why government regulation is required, citing the major reasons for government involvement in a market economy. 2. Justify the rationale for the intervention of gove
define and explain the concept of social efficent production
What are the basic economic institutions? There are two fundamental economic institutions which have been so far used into the real world are as: a. Market economic institut
economics of uncertainty with examples
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