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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
What are Less Developed Countries (LDCs)? Less Developed Countries: Developing countries are frequently considered to as less developed countries. The World Bank categor
How can external trade promote economic development and growth? International trade permits increased specialisation than higher output permits economies of scale. • A big m
What is the Lewis Model? The Lewis Model argues economic growth needs structural change into the economy whereby surplus labour within traditional agricultural sector along wit
QUESTION (a) State whether the following statements are TRUE or FALSE. Clearly explain your answer. (i)The Keynes liquidity Preference theory stipulates that money demand is
explain how inflation could reduce the efficiency with which prices allocate resources.
Change in Currency Rate Change in the sterling currency rate has also great consequences because it depends upon the sterling currency rate to the other countries as well. As
Ask quethe monthly revenue of a certain comany is given by R=820p-7^2p,where p is the price in dollars of the product the company manufacturers. at what price will the revenue be $
assignment given to me about the methods of pricing of a product with five examples
optimal use of variable input
Banking on a Beard Award Decision trees are models which allow you to both visualize and quantify a range of possible outcomes when faced with complex choices. These models in
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