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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 is the Marshal Plan? Marshal Plan: The Marshal Plan noticed massive aid to post war Europe that led to quick recovery. That Marshal Aid helped but the accurate social
Illustrate some example of the development process affected on culture. Examples of the development process affected on culture: • Foreign Direct investment (FDI) and IMF st
Consider a Bertrand duopoly. The market demand is q=190-p. Consumers only buy from the firm whose price is lower. If two firms charge the similar price, they share the market equal
analyse the effect of an increase in the price of sim cards on the equilibrium price and equilibrium quantity of cellphones handsets
What is the failure effectiveness of World Trade Organisation in the promotion of development? Failure effectiveness of World Trade Organisation in the promotion of developmen
Discuss about the free market economy in short. Free market economy: Households own resources and markets assign resources throughout the price mechanism. An increase wi
Question 1: (a) How do taxes affect the economic well-being of market participants? (b) Explain the link between fiscal policy and budget deficit. (c) What are the factor
1. Three clients of Disrup, Ltd P, Q and R are direct competitors in the retail business. In the first week of the year P had 300 customers Q had 250 customers and R had 200 custom
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 effectiveness of International Monetary Fund, in the promotion of development? Effectiveness of International Monetary Fund, in the promotion of development: Interna
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