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FOREIGN TRADE:
Interdependence between the economies of the world has increased multifold. External sector in the economy has gained primeimportance. Both exports and imports contribute to the production process. Both of these are effective instruments in raising the income levels of the people in a developing economy. Apart from flow of goods, increasing flow of services and capital between the nations give rise to payments and receipts in foreign exchange which, in turn, influence the Balance of Payment's position. In this unit, we shall examine foreign trade and Balance of Payments, trade policy and various policy measures for rapid growth of exports. Let us begin with explaining the relationship between foreign trade and economic growth.
Determine Optimal Price, Quantity and Economic Profit A firm has a demand function P = 200 – 5Q and cost function: AC=MC=10 and a potential entrant has a cost function: AC=MC
what is ratios GNP? what is use of models in macroeconomics?
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
llustrate and explain the changing demand gor big Mac using the indifference curves and budget line
Question: Product differentiation and entry/exit Two differentiated goods, apples and oranges, are located at the two extremes of a linear product space (a segment of length 1)
What is economics about? Economics: Economics is a social science which studies individuals’ economic behavior, economic phenomenon, ands also how individual agents, as like
explaination of quasi rent theory
impact of computer technology on nigerian economy
Case 1: The market for drugs Supply, demand, and equilibrium: The market for drugs. Suppose the market for drugs is a perfectly competitive market. Let the supply curve
1. Using personal (work) experience or examples found from companies you research or from text book scenarios: a. Give an example of at least two "conflicting measurements" bei
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