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Money facilitates market activities and is essential in complex market systems. With money people can avoid the problems associated with coincidence of wants. Between, these problems is the pricing of commodities. Prices stated in the terms of all possible trading goods makes it complex to determine what anything costs. In barter economies hours are spent in negotiating for even easy transactions, these hours are resources that could have been spent on other activities (thus the hours of negotiations are the opportunity cost of a money economy).
what are monetry accounts?
explain the concept economies/diseconomies of scale and minimum efficient scale
in the keynesian model, the price is assumed to be what?
Qdx=-30p+0.10+4pr+4t
Five uses of elasticity on the Public Sector and five uses of elasticity on the Private Sector.
price falls and demand is elstic
Disadvantages of division of labour: Division of labour may also have disadvantages that may include the following: (i) Lack of Craftsmanship Division of labour does not m
consumer=m with the help of indifference curve analyis
Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows: Playe
Questions (i) You are an industry analyst. Last year, the production cost of Microprocessor increased remarkably due to labor unionization. Nevertheless, the industry experie
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