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What is the role of World Bank in the promotion of development? The World Bank was found to promote post-war reconstruction and flow of capital to progressing countries. Its o
What is the capital-output ratio? Capital-output ratio: This ratio (k) is the amount of capital required to produce £1 of Gross Domestic Product generated, every year.
Question 1: (a) Explain, giving examples, the law of diminishing returns, clearly bringing out the relationship between cost curves and product curves in the short run. (
solution
#sources of oligopolyn..
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
Oligopolistic Competition: Two rms are competing for consumers. They simultaneously decide what quantity to produce. Suppose they have identical cost c, zero xed cost and fa
how economics useful for businesses
What is a bowed out shape? Why does a production possibilities frontier with increasing opportunity costa have a bowed-out shape?
What are the formal and informal sectors? Formal and informal sectors: Economic activities considered as to the government make up the formal sector of the economy. That
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