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Explain the concept of externality in economics? Give one example of a positive and a negative externality in Australia.
Disadvantages of the Planned System The centrally planned economies suffer from the following limitations: Lack of choice: Consumers have little influence over what is p
effects and implication of taxation in relation to managerial economics
Give short answer of following (a) Economics as a science. (b) Engineering Economics. (c) Economic Problem. (d) Meaning and characteristics of utility. (e)
(i) Do the laws of economics still work today? (use the case discussed in class to answer this question or any other examples) (ii) Provide examples of three factors that can sh
Objectives of ICAs Most schemes have as their main objective to stabilize and/or increase the world price of commodity, producers' incomes, foreign exchange earnings of export
types of capital budgeting
Explain the limitations of managerial economics
what is the goal of firm
Theory of Consumer Behaviour Through the study of theory of consumer behaviour we can be able to explain why consumers buy more at a lower price than at a higher price or put
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