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1 Differentiate between a firm and a market. 2 Graphically illustrate (i.e. draw) and explain the relationship between the market demand curve and the individual firm's demand c
marginal utility is applied on money or not
Question 1 Identify the basic postulates of economics Question 2 Discuss the role of price mechanism Question 3 Explain the shape and application of Engel curve
defination,characters,examples,graphs,share,effort
What are the economic and social costs of high inflation levels? High inflation will have serious redistribution costs; make distortions to the economy; decrease international
Durability of the Commodity: With some commodities, we require one at a time and they are used for a very long time before they get spoilt. Examples of such goods are cars, tele
Explain the roles of economics theory. Roles of Economic Theory An economic theory has three probable roles: a. This can be used to describe economic behavior and economi
. the condition for second degree of price
What are the basic economic institutions? There are two fundamental economic institutions which have been so far used into the real world are as: a. Market economic institut
what are the factors influencing supply
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