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Question 1 (9 marks) During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets a
How do currency speculators harm for Less Developed Countries? Private capital inflows can be short term and speculative. Speculators shift funds in a Less Developed Countries
What are the difficulties of Developing Economies? Problems of Developing Economies: • Internal and external difficulties limit LDCs opportunity for development. • Les
What are Harrod-Domar predictions? The economy is rate of growth, its predictions depends onto: • Capital formation and accumulation and capital output is the critical to de
what is production analysis?
XYZ is a company that produces a variety of medical appliances for hospital and home use. It has experienced a steady demand for its products, which are highly regarded in the heal
Most studies of firms’ long run costs have found that average costs decline as firms produce increasingly larger output levels (economies of scale), such as for automobile firms. H
What are the reasons for globalisation? Globalisation is the result of: • Enhancements in communications and transport, • Elimination of trade limits and exchange contro
Describe the difference between value management and value engineering. Value Engineering: It is concerned all along with determining the cheapest method of accomplishing
Your student union has decided to support a local charity by fund-raising on a Rag Day to be held in the town. Key events include a fancy dress relay race with teams sponsored by l
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