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explain how the keynesian cross shows that the economy is susceptible to self-fulfilling prophesies, either positive or negative
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
Why narrowness of definition of a commodity may influence price elasticity of demand
Production Function for Wheat * Farmers should choose between a capital intensive or labor intensive technique of production. Isoquant Describing Production of Wheat
a curve on a graph shows the relationship between apartment rent in a town and the quantitiy of apartments that people want at each rent. A new industry enters the town and the pop
Briefly explain the main macroeconomic objectives of governments. Definition of macroeconomic issues Growth a) Enhance in national income per unit of time, a
CHARACTERISTICS OF ECONOMIC INFRASTRUCTURE: Natural monopoly is the situation where the provision of a good or a service has economies of scale, which are realised most when a
what are the merits and demerits of deductive inductive methods in economic analysis?
National income accounting: Final Goods: Final goods are goods and services which are being purchased for final use and not for resale or further processing or manufacturing
Use a PPF to explain the trade-offs that all economies face. All countries must construct some sort of system whereby output, allocation and distribution of goods is decided.
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