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Explain how the economic theories applied in business economics
how the concept of elasticity used for policy formulation
International oil has been described as the lifeblood of industrial society. A National Security Council paper in 1953 noted that American Based multinational oil companies were in
QUESTION (a) Explain the real business cycle theory. (b) Using appropriate diagrams differentiate between inflationary and deflationary gaps. (c) Differentiate between th
What is import substitution? Import substitution: It is a government industrialisation policy for development by replacing imports along with domestic production. St
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
QUESTION No point is better accepted than the fact that the monopoly price is higher and the output smaller than what is socially ideal. The public is the victim. (a) Distin
Why do countries trade? International trade is the swap of goods and services among countries. Trade enhances consumer choice and complete welfare. Various countries have v
Problem 1: (a) Distinguish between the two broad aspects of globalization. (b) Critically analyse the drivers of globalisation. (c) Discuss, with examples, on the advanta
Ask question different between Marginalism & incrementalism #Minimum 100 words accepted#
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