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What are the "three basic economic questions" that economists often address when examining how much economic output is formed?
The three basic questions are:
a) what is produced,
b) how is it produced, and
c) for whom is it produced.
what is the relationship between TP, MP and AP
what is Microeconomics?
Economic growth and Economic development: Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income.A country is
Following the tremendous success of the 'Matthew Hayden Cookbook', we are once more welcomed into the home-and, more importantly, the kitchen!- of Australia's gourmet cricketer for
explaination of quasi rent theory
#question.contrast the long run equilibrium position of monopolistic competition firm and oligopoly.
Explanatory research is research conducted in order to describe any behavior in the market. It could be done by using questionnaires, group discussions, random sampling, interview
The definition of a price maker is states as “firm with some power to set the price bcoz the demand curve for its output slopes downward”, that in effect, mean those firms with a d
An economy can produce a maximum of either 28 million tons of wheat or 7,000 automobiles, or various intermediate quantities, as depicted in the table below:
Distinguish between interventionist and market-led strategies of development. Explanation of interventionist strategy; heavy government involvement in the planning of output, p
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