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what are the relevance of economics to most business today??
What is black marketing? Black Marketing means hoarding of sure commodity to sell it at higher prices. But it is an illegal activity in the economy and makes artificial shorta
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT: The main function of the IBRD is of long-term capital assistance to its member-countries for their reconstruction and de
Long-Run Versus Short-Run Cost Curves What happens to average costs when both the inputs are variable versus only having one input that is variable (short run)? The Inflexi
Consider a television manufacturer based in Korea. It produces TVs in Korea at a total cost of Y 2 + 2 Y where Y is the number of televisions they produce in Korea. It can als
Another school of thought developed what is called loanable funds theory of interest. Among the principle economists who contributed to the development of loanable funds theory men
Problem: a. With the help of diagrams, describe how the price and quantity of potatoes will change under the different circumstances: (i) A severe drought affecting its pro
Rule of Thumb Method Sir Ashby had been requested in 1960 by the Government of Nigeria to submit a report on manpower development in Nigeria. In doing so, in the absence of re
Mathematical representation - Inflation Unemployment Trade-off : Suppose that firms correctly perceive the state of demand in the economy and the rate of price inflation. The
The income elasticity of demand calculates the responsiveness of the quantity demanded of a commodity to changes in consumers' incomes. This is typically calculated by replacing t
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