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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 the reasons for globalisation? Globalisation is the result of: • Enhancements in communications and transport, • Elimination of trade limits and exchange contro
What is Employment and Unemployment? Employment and Unemployment: Employment: It is the number of people working within the economy. Unemployment: It is the nu
Analyse the effectiveness of market approaches into promoting development. Assessing the effectiveness of some system, planned, market or mixed depends onto the choice of displ
business environment
What is Baumol''s Sales Revenue
Is there a consensus view on the responsibility of government? Highly controversial and depends onto your view like to whether markets work. International agencies as like the
Problem: (a) What do you meant by the term "Outsourcing"? (b) Outsourcing services will be categorized into two groups namely Technology Services and Business Processes.
Hatfield owned a large farm on which he grew grain. His combine was inadequate in relation to the acreage of grain that he harvested annually. As a result, on several occasions his
what factors deter the sale of a product
1. Imagine that two countries, Richland and Poorland can produce just two goods, computers and coal. Assume that for a given amount of land and capital, the output of these two pro
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