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Identify the four institutional requirements of markets.
The four institutional needs of markets are:
Pprivate property,
Social institutions of trust,
Good physical infrastructure and
Money.
Entrepreneur: The entrepreneur or enterprise is a special factor of production that is in charge of the organization of the other three factors of production (land, labour and
some fields have large enough quantities of both oil and ntural gas taht coordination must be achieved for the production of both, reather than oil alone as in our examples. will f
b) Sally’s firm produces granola bars with a fixed cost of 10 (this cost is already sunk). Her variable cost function is VC = q2 + 2q. Assuming the market for granola bars is comp
explain why policies for promoting market competition are desireable
Determinants of Private Demand - Unemployment Rate Unemployment rates linked to specific courses of study can be useful indicators to determine investment in education. Their
Really briefly, what are 2 methods of measuring external stability? In Australia generally.
Ways in which the markets fail and discuss why government intervention is justified and whether government intervention works or not.
Suppose a government uses an expansionary fiscal policy to get out of a recession. Use the IS/LM model and the IS-PC-MR model to explain what monetary policy to pursue.
What is the theory of Second Best? Prove the theorem with the help of a diagram.
Labour Extraction: Most employees under capitalism are paid according to time they spend at work. Though employers then face a challenge to extract genuine labour effort from their
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