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QUESTION
(a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost.
(b) Distinguish between positive and negative externalities, illustrating your arguments with appropriate examples where necessary.
(c) Define the concept of economies of scale and discuss the different sources of economies of scale.
(d) Using demand and supply analysis, explain the influence of the imposition of a maximum price and a minimum price on a product on price and quantity.
QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) Distinguish between centrally planned, laissez-faire and mixed economic systems rega
What are social cohesion, social capital and social inclusion? Development economics importance the role of social capital, cohesion and inclusion into the process of developm
The word double-dip is a negative -situation .This scenario has economically shall move back and switch in to a deeper and longer worse situation. A double dip recession states to
what are the types of technical economies?
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theory of profit maximisation
Numerical Exercise 11. Suppose that the Fed’s inflation target is 2 percent, potential output growth is 3.5 percent, and velocity is a function of how much the interest rate differ
Foundations in Business and Commerce 1. What is logistics networking? 2. Write a short note on ethics in retailing. 3. What is the concept of insurance? 4. Describ
why do companies privitise? what is the objectives of privitisation? what are the advantages and disadvantages of privitisation?
What do you mean by the term project milestone? How would you decide how many milestones to demonstrate on your project plan? Project milestone: A milestone is a point at
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