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What are economic systems?
An economic system is the system of organisations utilized by a society to solve the economic difficulty of what how and for whom to make. There are four types of economic system.
a. Traditional economy
b. Free market economy
c. Planned or command economy and
d. Mixed economy
QUESTION a) State and explain the assumptions of a perfectly competitive market. b) Analyse the effects on the firm's profit and output of an increase in demand in the short
QUESTION Evaluate the roles and functions of the Bank of Mauritius in ensuring monetary stability in the economy. Explain Economic growth and its potential benefits to th
Question 1 Explain the law of diminishing returns. What are its causes and effects? Question 2 Compare perfect and imperfect markets Question 3 A monopolist with a linea
Define the balance of payments problem in international capital flows. Balance of payments (BoP): It inflows capital as like: • Foreign direct investment (FDI) into machiner
what are the steps in location decision.
Why not cancel all third world debt? Two arguments are advanced in opposition to debt cancellation. • Developed countries finance the World Bank which can use its funds to
This is concerned with any one of the following forms. controlling the supply of money controlling interest rates Rationing the amount of credit granted by banks
what is it?
B. Complete the following table
Foundations in Business and Commerce 1. What is logistics networking? 2. Write a short note on ethics in retailing. 3. What is the concept of insurance? 4. Describ
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