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Question: (a) State whether the following statements are TRUE or FALSE. Justify briefly your answer. (i) Money is the most liquid medium to store value. (ii) An increa
greg and todd form a partnership and start a business in which each has a 50 percent share of the profit. after a year, the firm goes bankrupt and has debts of $20,000. greg has no
critically evaluate the two main utility theories
QUESTION (a) Explain the law of demand and the factors affecting demand. (b) Explain and illustrate how demand of a commodity will change if there is a tax on that product.
Managerial economics bridges the gap between economic theory and practice
What is the main danger in placing countries together in the same grouping? It is useful to classify countries by groupings for identification of common problems and policy pu
What are the processes of industrialisation for productivity? The process of industrialisation increases productivity and per capita incomes and includes: a. Urbanisation
How does colonial background influence the development process? Colonial experience influences: • Language for example the official language of US is English. • Legal and
what factors deter the sale of a product
with a water park going in town. What kind of externality is this?
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