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How did foreign debt arise? Evaluation: Borrowing shows an injection of new resources in the domestic economy and also an opportunity for development. • When borrowed re
what is social cost
Q.No2 Read the following situation Consider the following parlor game to be played between two players. Each player begins with three chips: One red, one white and one blue. Ea
You are evaluating two (mutually exclusive) methods of strip-mining a resource-rich area. The alternatives are very similar, though one important difference is in the scale of the
how does economic theory contribute to managerial decisions?
Can national income figures be used to make comparisons of standard of living among countries? National income measures the Gross Domestic Product of country and therefore can
In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
QUESTION 1 (a) Explain the concept price discrimination? (b) Discuss the views that price discrimination always operates in the public interest. QUESTION 2 (a) Descr
opportunity cost and decision making
QUESTION a) Differentiate between price, income and cross elasticity's of demand. b) How can the concept of price elasticity be useful to the owner of a supermarket who want
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