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Functions of Money Money performs several important functions. It serves as a medium of exchange, a unit of account, a store of value and a standard of deferred payments. In a
I need to find recent disney cruise stories and what microeconomic theory it is and what they should do. for example renovating a ship why did they and what theory would that be?
There are different reasons for state trading. Important reasons are given below. (i) State may directly buy the goods required by the various government departments and agencie
Question (a) Describe clearly the three concepts of elasticity of demand. Use appropriate examples and diagrams to support your answer. (b) Consider you have been appointed
Problem 1: i) How might unemployment arise? ii) Critically explain how fiscal policy can be used to reduce the unemployment rate in an economy. iii) ‘'Inflation always
Economies of Scale The reduction in the cost of each additional unit produced as all factors of production increase. Factors contributing to economies of scale include discoun
1. Explain externality, how can government intervene to achieve allocative efficiency in case of external cost or external benefit? 2. Explain oligopoly's structure and use game t
THE WORLD BANK: The World Bank is another of the 'Brettonwoods Twin Sisters'. The World Bank, as it obtains presently, is an umbrella organisation, under which five different
The price elasticity of demand is how economists calculate the responsiveness of consumers to alters in prices for a commodity. In other words, as price enhances (reduces), the qu
This firm will maximize profits by producing the level of output that corresponds to point: a. b. c. or d. ?? Refer to Figure for a perfectly competitive firm. Given the
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