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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 characteristics of the informal sector? The characteristics of the informal sector comprise: • working for yourself quite than an employer, • Small scale ent
What are the internal constraints on government action less developed countries? Internal Constraints on Government Action LDCs: • Have restricted domestic resources to ac
In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
What would primary markets look like in absence of secondary markets?
example of an HMO with these types of set rates
There are three firms in an economy: A, B, and C. Firm A buys $450 worth of goods from firm B and $260 worth of goods from firm C, and produces 260 units of output, which it sells
Tasks "Accounting standard setting is a political lobbying process, and as such offers various Opportunities and means for interested parties to affect its outcomes." Require
Do all developing economies have same underlying problems? Less developed countries are similar but exceptional. The impact of a problem will vary depending upon circumstances
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
Problem 1 Discuss how Monetary policy regulates the money supply in an economy through various instruments. A) Explanation of the instruments of monetary policy Problem
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