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Identify the four institutional requirements of markets. The four institutional needs of markets are: Pprivate property, Social institutions of trust, Good physical i
5 reasons of make in contruction a ppc
Households: The fundamental unit of individual economic behaviour. Households offer labour supply to labour market, make consumer purchases,earn income (from employment and other s
brief explain of keynesian consumption theory
Why Average Revenue= Marginal Revenue
Time is a significant determinant of price elasticity. If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to ac
Stock of durable goods on hand: If the economy has enjoyed an extended period of prosperity, consumers may find themselves well supplied with various durable goods, e.g. cars,
Globalization: A generalized historical process by which more economic activity occurs across national borders. Forms of globalization include international trade (imports and expo
f(x1 x2,x3,x4) =min(x1/4x22/3,x3+2x4)
Liberalisation of the Economy: Removal of Industrial Licensing: All industrial licensing was abolished but for a shortlist of 18 industries related to security and strategic
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