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TOWARDS A NATIONAL ACCOUNTING SYSTEM A real life modern economy is a very complex structure consisting of millions of units engaged in a variety of economic transactions. Ther
Consider an economy with the following characteristics: i. The price-level is fixed ii. The economy is closed (Exports - Imports = 0) iii. Government spending (G) and Inve
The market demand for a factor The market demand curve for any input is not simply the horizontal summation of the individual demand curves of all the firms. This is due to th
Why might external economies of scale be of interest to developing countries?
a health club sells 50 memberships when the monthly price is $60 and 70 memberships when the monthly price is $40. the price elasticity of demand for memberships at this health clu
What is the opportunity cost of economic growth? Opportunity cost measures the cost of an economic option within terms of the next best option foregone. The government of a
Q. Explain about Labor Market in AS-AD model? In AS-AD model, economy will always be on the response curve - the thick line in chart below. Figure: The labor in the
critically analyse the ways at which the government of zimbzbwe has put in place to address unequal employment opportunities between men and women
This economics of scale exist for all of the following reasons except: a. bureaucratic inefficiencies b. management problems c. failures in information flows d. firm size is to
What is the development process? Development is measured through outcomes that are development occurs while key indicators of human well-being enhance. A reduction of poverty
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