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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.
Assume that there are two types of consumers (in equal numbers). They have the following two inverse demand functions (coming from zero-income effect demand functions): Type A : p
Question: (a) State whether the following statements are TRUE or FALSE. Justify briefly your answer. (i) Money is the most liquid medium to store value. (ii) An increa
The Basic assumption which underlay the government of international economy has been that the economies of the world would converge around a capitalist model. The details of such a
What is the success effectiveness of multi-national companies (transnationals) in the promotion of development? TNC FDI success into promoting development: • Introduces mode
How does economic system influence the development process? The development experience of free market or capitalist and command as socialist/communist countries is extremely d
how does income flow in a governed economy
I am given that demand formula P=150-3Q, am told I only have 40 tickets to sell and that the MC=0 and I am suppose to figured out how many tickets to sell to maximize total welfare
How do currency speculators harm for Less Developed Countries? Private capital inflows can be short term and speculative. Speculators shift funds in a Less Developed Countries
theory of economies of scale,dis-economies,intergration
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