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Problem 1:
i) Define the three main Economic Systems?ii) How can knowledge on price, income and cross price elasticity of demand, be helpful to the Government and a firm, respectively? iii) Many of the Eastern European countries who were previously centrally planned economies have placed greater emphasis on market forces . Discuss the reasons behind such a trend.
Problem 2:
i) Explain the main causes of unemployment.
ii) What do you understand by the terms: a) Demand-pull inflation b) Cost-push inflation.
iii) To what extent can fiscal and monetary policies be used to deal with a high rate of inflation?
Question: (a) What is the difference between a News Conference and a News Release? (b) An Organising Committee has been set up to celebrate the Chinese Spring Festival on S
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examples of inductive method in economics
Consider the model of industry protection of Grossman and Helpman. There are two industries A and B, each producing good X and Y respectively. All other things being equal, the dem
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Sustainability, more recently referred to as ‘sustainable development', came from the idea of integrating economic development and environmental protection. The concept is based on
The require for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime. Suppose these statements to be correct, 1. How will a successful campai
Examine issues and decisions using the economic way of thinking; identify appropriate economic policy; communicate economics in written format Topic Upon finishing your d
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