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Question:
i) Explain the main problems with government intervention.
ii) Why and how do governments seek to control monopolies?
iii) A country should specialise in the production of the good in which it has the lowest opportunity cost. Discuss.
Distinguish among the terms of trade and the balance of trade for a country. Definition of terms of trade a) The amount of a given amount of export goods essential to buy
heckscher - ohlin theory of trade
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measures to control business cycle
meaning of opportunity cost under theory of cost
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Statistical methods are considered to be superior techniques of demand estimation because: a. The element of subjectivity in this method is minimum, b. Methods of es
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