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Sources of external economies of scale: Economies of Skilled Labour: This involves upgrading the skills of labour through the provision of education and training faci
Wealth: This is a stock of accumulated purchasing power stored up from the past. For example, if you have a fat savings account accumulated from your past earnings, your curre
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Gross Domestic Product and Growth Rates: The rate of growth of the secondary and tertiary sectors has been more than double that of the primary sector, with the secondary sect
explain how the keynesian cross shows that the economy is susceptible to self-fulfilling prophesies, either positive or negative
describe who gets hurt in a recession, and how.
It is important to understand the important characteristics of monopolistic competition. The knowledge of these features will enable the students to know how this form of market st
define economics in plural sense. .
about the price determination with the held of diagramatic explanation numerical explanation related to the concept
Identify the four institutional requirements of markets. The four institutional needs of markets are: Pprivate property, Social institutions of trust, Good physical i
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