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Types of production function
Problem: i) Differentiate between economic development and economic growth. ii) Describe carefully how, using the expenditure approach, national income is calculated. ii
using the tools of an indifference curve and isoquent, highlight on consumption and production in business economics.
ive been asked to compare shapes of graphs e.g. constant slopes increasing, decreasing, inelastc using the concepts of marginal and average changes?
factors influencing the conditions of demand for a given product
Indifference curves present all possible combinations of market baskets that give the similar level of satisfaction to a person. Indifference Curves 1. Indifferen
why constant return to scale is important
Fluctuations in Growth Rates: Fluctuations in year-to-year growth rates in early stages were very marked, which indicated that the economy had failed to create conditions cond
Resilience in Addition to Strength: The BOP has been in overall surplus since 1996-97 with forex reserves rising, on an average, by $8.50 billion per annum during 1996-97 to 2
Why in 1996 did the BEA switch to calculate real GDP using the "chained-dollar method" from the "constant-dollar method"? The BEA made the switch from the constant-dollar metho
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