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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
A transition economy is Moving from a planned to a mixed or free market economy.
QUESTION 1 i) Distinguish between the different kinds of concentration measures ii) Briefly describe the axioms of Hannah and Kay (1977) iii) Derive and explain the Dorfm
QUESTION 1 (a) Compare and contrast the main theories of a demand for money. (b) Specify a money demand function for a small island economy like Mauritius. QUESTION 2
Ask question critically evaluate the two main utility theories #Minimum 100 words accepted#
The reserve requirement is 20%. Assuming banks have no desire to hold excess reserves, calculate the money multiplier. Now assume the banks want to hold 20% of their reserves in ad
The Australian government administers two programs that affect the market for cigarettes. First, media campaigns and labelling requirements aimed at making public aware of the dan
Explain the discounting principle. Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next f
Quantitative demand for watermelons = 50-3P(wm) - 20P(hd) + 10 P(sc) + 0.001(income) P(wm) = $4.00 P(hd) = $3.00 P(sc) = $2.00 Income = $40,000 Quantity supply of watermelons = 2
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The managing director of Christine plc, a company which specialises in acquiring small businesses, has considered the following potential investments. Only one of these investments
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