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Nathan is a successful public relations (PR) consultant, thanks to an outgoing personality and sharp intelligence. At 35, he is near the height of his earnings potential, at around
theory of profit maximisation
law of diminishing marginal utility assignment
QUESTION Explain the relationship between scarcity, choice and opportunity cost. "In a capitalistic system, Consumer Sovereignty is the key". Explain and discuss this sta
Describe the terms inflation, deflation, and inflation rate and price stability. Inflation and Deflation: a. An increasing aggregate price level is called as inflation.
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Is unemployment and underemployment a problem? The cost of unemployment is both: • Economic along with the opportunity cost of lost output raised poverty and inequality
Is population growth a problem? Quick population growth is a main cause of poverty and arises where population growth go beyond the rate of economic growth. Standards of liv
QUESTION In several countries recently, many people have become unemployed. Analyse the different types of unemployment in an economy. Explain the likely causes and conseque
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