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(a) Differentiate between a command economic system and a laissez-faire.
(b) Assess to what extent it is advantageous for an economy when it moves from a controlled to a free-enterprise system.
(c) Describe the relationship between scarcity choice and opportunity cost.
(d) One major objective of various firms is to grow big in size. Explain why this is so.
Market demand and supply of a good is shown by QB = 2,160 - 180P and QS = -2400 + 300P where QD, QS and P stand for quantity demanded, quantity supplied and price respectively. (a
indifference curve and budget line
Strictly give the diff. btw the theory of reciprocal demand & theory of comparative advantage
what are the concept of opportunity cost
The reason that an entrepreneur supposes the risk of starting a business is to earn profits. The fundamental assumption in the theory of production is that a rational owner of a b
TC = 1q^3 - 40q^2 + 840q + 1800 Price= $750
Deficiency of Vitamin A Deficiency of Vitamin A has been found to impose adverse effects on roughly one third of the children below the age of five around the world. It has also be
Poverty: A state of having inadequate income or other resources to support a household (or group of households) at a basic standard of living. Poverty can be measured in absoluterr
Ask question #Minimu2. Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appra
Ask factor affects elasticity of demandquestion #Minimum 100 words accepted#
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