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You are given the following functions in a fully competitive market: Market demand function: Qd = 20 – 3P Market supply function: Qs = 4 + P Where P is price A) In which price s
Net exports normally decrease with the effect when aggregate output decline. When a concretionary fiscal policy is implemented net exports will go up . When government maintain the
Assess the impact of fiscal and monetory policy on business organisations and their activities
What is urbanisation? Urbanisation arises while an increasing proportion of the population live into cities, suburbs or towns. All cities are attractive to potential migrants s
Draw the line of competition
What is Economic development theory? Economic development theories and models seek to describe and predict how the: • Economies may develop or not over time in excess •
Explain about the term Traditional Economy. Traditional economy: It is where decisions regarding what, how and for whom to produce are based onto tradition and custom. A
What are some of the changes taking place in the international business environment? How do changes in the international business environment affect pricing, output, cost and profi
QUESTION 1 (a) Explain clearly the various sources of Industrial Law (b) The mutual consent of the contracting parties is required for a contract of employment to be valid, but
QUESTION (a) "There is always an inverse relationship between price and quantity demanded of a good." Discuss. (b) Explain with appropriate diagram(s) the different factors
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