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What is Deflation? Deflation in economics refers to reduce in the general price level, i.e. the nominal cost of goods and services as well as wages reduce. As, it is an opposi
Tariff: A tariff is a tax imposed on the purchase of imports. It is generally imposed in order to stimulate more domestic production of the product in question (rather than meeting
Functions of the IFC: The purpose of the IFC is to further economic development by encouraging growth of private enterprise in member-countries. The IFC, therefore: • inv
What are the factors that producers in the society may take into consideration when deciding on the what to produce,how to produce and for whom ?
At a market price of $21 a toy, what quantity does the firm produce in the short run and does the firm make a positive economic profit, a zero economic profit, or an economic loss?
what is money? functions
#• The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
if the price of labour is 2000 per hour and the price of capital is 1000 per hour.is there an efficiency point of production.
Suppose an economy has four sectors, Agriculture (A), Energy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest
heckscher - ohlin theory of trade
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