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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
Suppose you have ten individuals with values ( $1, $2, $3, $4, $5, $6, $7, $8, $9, $10) . Your marginal cost of production is $2.50. What is the profit maximizing price?
What is good governance? Governance is fundamentally another word for government and is a necessary precondition for development. It is how governments employ their authority
Below is a given Frequency Distribution Table which needs the Student's attention. Please complete the table as necessary to find the following information: a. What is th
A sample of 60 mutual funds was taken and the mean return in the sample was 13% with a standard deviation of 6.9%. The return on a particular index of stocks (against which the mut
How does social capital influence development? Problem: Low social capital leads to potential conflicts and high transaction costs which hinder growth. Several LDCs (Less Deve
What is matrix algebra, give some examples and its types
Report the average and standard deviation of monthly return for your corporation and the S&P 500 on the spreadsheet. Use the spreadsheet functions to calculate these: =AVERAGE(dat
what is production nfunction
Explain the relationship between types of risk action and where each might be utilized. Risk actions are of mainly two types: avoidance actions and mitigation actions: Avoi
First, explain the concepts of income, wealth and money and show how each is related to the other. Next, explain the concept of the monetary base and indicate its economic signific
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