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Rationale for government intervention There are six major functions the government can perform in an economy. 1. The government provides a legal and social framework within which
what is the Theory of second best? Prove the theorem with the help of digram
When measuring price levels in the economy (such as when calculating the CPI index), why is a weighted average used? Because we require giving greater emphasis to prices at whi
illustrate and discuss implications of various market structure(non competitive and competitive) for price determination
Materials Requirements Calculations - MRP System MRP is a computer-based 'engine' which carries out calculations in order to determine: What is needed, and When i
the prevention of major swings in economic activity cn be handled most easily by the financial or government sector?
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
national income and what is used to measure it
Creating Mobile Telephone Infrastructure: The second concept of subsidising the telecom infrastructure required for providing services in rural and remote areas is designed to
explain two theories of economic rent
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