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what are the types of technical economies?
Question 1: Write short notes on any FOUR of the following: (equal marks each) (a) Law of diminishing returns (b) Barriers to entry (c) Consumption Function (d) Devaluati
Why do markets work into promoting development? Liberal economists dispute a free market economy works since this gives incentives for self-generating growth. Particularly the
What are the major area of decision making ? How does economic theory contribute to managerial decision ?
QUESTION (a) Explain the real business cycle theory. (b) Using appropriate diagrams differentiate between inflationary and deflationary gaps. (c) Differentiate between th
The prevention of main swings in economic activity can be handled most simply by the household sector. Explain why?
what are the economic problems facing any individual in the economy
Things like housing and autos tend to be affected by changes in interest rates due to financing is typically needed to make such purchases. If financing becomes more costly due to
uses of discounting principals
QUESTION (a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost. (b) Distinguish between positive and negative externalities, il
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