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How might one measure differences in living standards between less developed and developed countries?
This is a very wide question where any clear and relevant calculate should merit marks. Explanation of standard of living as a wide range of issues - which must then be made measurable! For example, health care is hardly a distinct and measurable variable, but doctors per 1,000 citizens are. The way to address this question is therefore to not only exemplify with variables which are part of living standards, but also render them measurable in some way
aid of production possibilty curve
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
#questDuring the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in ter
Consider the following duopoly with differentiated goods where x 1 and x 2 denote the amounts of the goods 1 and 2 respectively, with prices p 1 and p 2 . The demand funct
how do you calculate opportunity cost
BALANCE OF PAYMENTS AND PROBLEM OF DEFICITS: The principal tool for the analysis of the monetary aspects of international trade is the balance of international payments set
different btn elesticity of demand and inelasticity of demand
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Technical Economies: They are economies that accrue from the use of large machines with emphasis on full utilization and efficiency in production. First, there are some equip
Why is it true that shortages usually occur mainly when price controls are in effect? In the nonexistence of price controls the shortage generally goes away quickly because price
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