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How do economists differ from accountants in the use of the term profit ?
Definition of rev and accounting costs
a) foregone interest
b) foregone wages
c) risk premium
What are the disadvantages of a informal economy?
Accountants prepare income statements typically in terms of historical costs, in terms of the purchase price, rather than in terms of the current price. The reasons given for this
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How does culture influence the development process? Culture influences what is of value into a society and affects how individuals, communities and organisations react to modi
QUESTION 1 (a) Explain the concept price discrimination? (b) Discuss the views that price discrimination always operates in the public interest. QUESTION 2 (a) Descr
how can a community having water shortages issues be resolved using marginal utility and consumer behaviour
what factors affect the volume of production in an economy
What are the national figures? National income figures: • Do not measure social, non-economic, quality of life indicators as like life expectancy that access to educatio
Define given terms: Actual Cost of Work Performed (ACWP); Budgeted Cost of Work Performed (BCWP); Budgeted Cost of Work Scheduled (BCWS). • ACWP is the amount of attempt (exp
What is the difference between wealth and income? Difference between wealth and income: • Wealth , which is a stock value that is the current value of assets for example b
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