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What are institutions? Institutions are formal organisations as like: • Government : the group of some people and institutions who control and manage a country Civic socie
Problem: (a) Critically asses the difference between economic growth and economic development. (b) Describe the definition of economic development as a multidimensional pro
Write a book review of a book of your choice (chosen from the list of course reference literature) by either Joseph A. Schumpeter or Israel Kirzner about entrepreneurship and macro
What factory overhead expenses are involved?
Can economies grow of less developed countries by developing its secondary sector? Economies grow of less developed countries by developing its secondary sector because manufac
QUESTION Explain the relationship between scarcity, choice and opportunity cost. "In a capitalistic system, Consumer Sovereignty is the key". Explain and discuss this sta
Problem 1 Discuss how Monetary policy regulates the money supply in an economy through various instruments. A) Explanation of the instruments of monetary policy Problem
GDp of World?
What is the difference between real and nominal Gross Domestic Product? National Income consists of a price and a quantity element. When the price level doubled along with simi
Question 1: a) Explain, with the use of examples, what is meant by the ‘Factor Endowment Theory'. b) According to you, can the ‘Factor Endowment Theory' be a reasonable e
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