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QUESTION
(a) Explain the relationship between scarcity, choice and opportunity cost.
(b) Distinguish between centrally planned, laissez-faire and mixed economic systems regarding the resource allocation problem.
(c) According to you which of the above three economic systems is the best? Justify your answer.
MC=25+30Q-9Q^2 fixed cost=55 find total cost avarage cost variable cost
QUESTION a) Differentiate between price, income and cross elasticity's of demand. b) How can the concept of price elasticity be useful to the owner of a supermarket who want
What is Conditionality? Conditionality is the needs imposed onto countries as pre-conditions for loans. Into crisis situations member countries seek assist from the IMF for
The project management method envisages a hierarchy of plans. Define this hierarchy. At the top level, there would be a Project Plan which covers the major aspects of the proje
uses of discounting principals
Problem 1 Discuss how Monetary policy regulates the money supply in an economy through various instruments. A) Explanation of the instruments of monetary policy Problem
assignment .
explain the role scarcity of resources plays in economic decision making
How does macro-economic stabilisation assist growth? Economic agents as the consumers, private zone and overseas investors as like multi nationals make decisions based onto co
QUESTION 1 (a) What, according to you, are the ergonomic problems associated with the use of visual display units? Describe the measures which can be taken to eliminate these p
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