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Balancing Needs and Resources planning is a balancing act. It involves the balancing of needs with resources towards set goals. Likewise, educational planning involves the bal
Q. Define Debt? Debt:Total amount of money owed by a company, individual or other organization to banks or other lenders is their debt. It represents accumulated total of past
economics of uncertainty with examples
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Change in demand: change in quantity demanded occurs when the consumption of a commodity increases or decreases as a result a change in the price of the commodity, when all ot
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
Arc Elasticity is defined below: Arc elasticity measures/calculates the "average" elasticity between two points on the demand curve. The formula is simply given as (change in q
What determines aggregate demand?
The Free Enterprise: Price System The free market system is where the decision about what is produced is the outcome of millions of separate individual decisions made by cons
Define the term “cross elasticity of demand” (2 marks) Price of commodity X (SH) Demand for commodity X (Units) 12 80 16 100 20 120 24 140 28 160 d) The following data relate to a
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