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List two advantages of markets identified by the authors of the text.
Markets can be a significant way of allocating resources. Markets include voluntary exchanges. Another benefit identified in the text is that markets encourage innovation and creativity.
Once countries already have a high level of production, how might they achieve living standards growth? Once countries achieve a high level of production, they might be achiev
Q. Explain about Neoliberalism? Neoliberalism: A modern, harsher incarnation of capitalism that became dominant globally beginning in early 1980s, largely as a reaction to inte
What are the important functions to maximize total surplus? The market equilibrium maximizes total surplus since the market performs four significant functions are as follows:
Explain about the specification of economics environments. Specification of Economic Environments: The primary step for studying an economic issue is to identify the econom
project work
During a given interval a nation''s overall productivity grows at a compounded rate of 2%. Its population growth rate and degree of labor-force participation do not change over thi
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
price of laptop increases by 20% and there is a 40% drop in the quantity demanded?
3, chapter 12
law of demand..
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