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Use a PPF to explain the trade-offs that all economies face.
All countries must construct some sort of system whereby output, allocation and distribution of goods is decided. In the method, of solving the basic economic problem there will always be a trade-off (i.e. an opportunity cost) as resources are limited and our (societal) needs are infinite. This trade-off can be illustrated diagrammatically by the PPF
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how do cooperative and noncooperative games differ
Project requirements: Refer to Table and answer the following questions for EACH organism listed above. Word requirements are outlined for each question - this represents a minim
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Why might an oligopoly be reluctant to change its price? When some large firms have high total market share and are non-collusive, there is a strong element of interdependency.
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use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of labour,(a) an increase in immigrants, (b) a reduction in wag
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