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different types of firms
QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) Distinguish between centrally planned, laissez-faire and mixed economic systems rega
What is matrix algebra, give some examples and its types
A1. Given the following production function Level of fertilizer Level of maize 0 0 1 44.9 2 83.6 3 110.1 4 127.3 5 136.9 6 139.9 7 137.1 8 129.2 a) Calculate the APP, MPP and elas
Why does a production possibilities frontier with increasing opportunity costs have a bowed-out shape?
What is the difference between real and nominal Gross Domestic Product? National Income consists of a price and a quantity element. When the price level doubled along with simi
What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the
What is the Heavily Indebted Poor Country Initiative? The Heavily Indebted Poor Country (HIPC) aims to assist the poorest, most heavily indebted countries prevent by unsustain
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
Discuss the following in relation to China's market reforms: (1) the political and economic factors on the basis of which China decided to undertake market reforms; (2) how
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