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Problem 1:
(a) Explain the meaning of poverty. Briefly explain how poverty is measured?
(b) Clearly explain the relationship between Poverty, Inequality and Economic Growth.
Problem 2:
Using examples of Least Developed Countries, explain the causes and consequences of market failures.
You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a
The Industrial Revolution The century after 1750, saw the industrial revolution proper: invention of steam engine, spinning jenny, power loom, hydraulic press, railroad locomot
Arbitrage pricing theory is between one of two influential economic theories of how assets are formed or priced in the financial markets and the other model is the capital asset pr
How economic theory explain optimum pattern of consumption for an individual consumer
Optimum currency area: An optimum currency area (OCA), also known as an optimal currency region (OCR), is a geographical region in which it would maximize economic efficiency
demand elasticity
Theory of Oligopoly: Oligopoly is that situation where the number of firms in the market is large but not as large as in the case of perfect competition so that it is possible for
In fall 2006, Pace University raised its annual tuition from $24,750 to $29,750. Freshman enrollment declined from 1500 in fall 2005 to 1110 in 2006. assuming the demand curve did
The "Battle of Sexes" is a famous game. The story is that a couple tries to decide what to do on a Friday evening. The girl prefers to go to an Opera and the guy prefers to go to t
BUREAUCRACY: M de Gournay, an economist of France, first coined the word Bureaucracy in the eighteenth century to refer to "a fourth or fifth form of Government" in which "off
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