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Problem 1:
The national budget exercise is nothing more than a political exercise. Discuss.
Problem 2:
a. What do economists mean by the term ‘efficiency'?
b. What are merit goods? What is government's role in redistribution?
c. Why might government intervene in the in the market's allocation of resources, even when it is Pareto efficient?
Problem 3:
Even if there is no consensus over the use of cost-benefit analysis, cost-effectiveness is a goal that can draw on wide support.
The Social Cost of Unemployment i. For the individual, there is the demoralizing effect which can be devastating particularly when they are old. This is because as some
Frank H. Knight treated profit as a residual return to uncertainly profit. Obviously knight made a distinction between risk and uncertainly he divided risk into calculable and non-
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Describe the Application of economic theories Pertinent business decisions necessitate an unambiguous understanding of the environmental and technical conditions under which bu
Q. Explain about Regression analysis? Regression analysis is the statistical technique which identifies the relationship between two or more quantitative variables: a dependent
Elastic Supply Supply is said to be price elastic if changes in price bring about changes in quantity supplied in greater proportion. Thus, when price increases, quantity sup
Shifts in the supply curve Shifts in the supply curve are brought about by changes in factors other than the price of the commodity. A shift in supply is indicated by an entir
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Measures to control inflation An inflationary situation can effectively be addressed/tackled if the cause is first and foremost identified. Governments have basically three
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