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Question 1 Explain the law of diminishing returns. What are its causes and effects? Question 2 Compare perfect and imperfect markets Question 3 A monopolist with a linea
What is the definition of land productivity?
Do all developing economies have same underlying problems? Less developed countries are similar but exceptional. The impact of a problem will vary depending upon circumstances
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
Define institutions in the context of business strategy, and explain the role of institutions when considering entering a foreign market. Explain the role of culture in how these i
Draw the line of competition
What is suitable technology? Technology is suitable when this employs methods which make the best use of accessible resources that is labour-intensive, straightforward techniqu
Accountants prepare income statements typically in terms of historical costs, in terms of the purchase price, rather than in terms of the current price. The reasons given for this
explain how inflation could reduce the efficiency with which prices allocate resources.
First, explain the concepts of income, wealth and money and show how each is related to the other. Next, explain the concept of the monetary base and indicate its economic signific
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