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Problem 1:
(a) Clearly distinguish between the theories of Comparative and Absolute advantage of trade (you are expected to use examples to illustrate your answer).
(b) According to you, how far do these theories still illustrate the behavior of trade around the world? What other theory/theories come closer to explaining the pattern of current world trade behavior?
Problem 2:
a) Describe, with the use of diagrams, the difference between a tariff and a quota.
b) Over the recent years, domestic support in agricultural trade has become a significant issue in international trade negotiations. Explain how subsidies in agricultural trade is trade-distorting.
Assume Mr. Robinson deposits pounds 600 in currency at a bank. Later that day Ms. Volker borrows pounds 1200 from the similar bank. The money supply will have enhanced by pounds 60
Problem 1: (a) Define the concepts of production-oriented capitalist system and market-oriented capitalist systems. (b) With set examples, explain how these firms behave
What are the problems of the sustainability in economic growth? Sustainability Problem in Economic Growth: Recent economic growth makes threats the future quality of life. S
optimal use of variable input
despite of pitfalls forecastimg is indispensable to a business firm.discuss the importance of forecasting in light of this statment
Make a list of businesses that provide goods and services that you or your family members use in a typical week. For instance, do you stop at the service station on your way to sch
Does the structure of the population issue? Dependents into an economy, children as well as old people are assists by the economically active. Dependency ratio uses to measure
What are the limits of national income (NY) statistics in measuring development within a country? National income statistics simply show changes in GDP (Gross Domestic Product)
As selling is an ‘asking process’, how you could use this to assist you sell some further functionality to a system under development? When we use the buying cycle like a guide
Ask question critically evaluate the two main utility theories #Minimum 100 words accepted#
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