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QUESTION
(a) Explain the relationship between scarcity, choice and opportunity cost.
(b) What is market failure and why does it occur in an economy?
(c) Differentiate, using appropriate examples and diagrams, between fixed cost and total cost.
(d) Discuss to what extent a large firm is able to benefit from economies of scale in the television manufacturing industry.
Critically evaluate measures used by governments and central banks to manage the economies of their countries. By critical evaluation use convincing arguments for or against measur
A businessman invested $ 4000.00 as his fixed cost in a new venture that produces batteries. Each of these batteries cost $150.00 to manufacture and he sells each battery for $180.
Demand uncertainty, particularly in the fast fashion industry, is a significant factor. For this reason, María, the Supply Chain Manager of The Fast Fashion Group (FFG) has decided
A. Consider the example of renovating a highway that is in poor shape, with large holes and crumbling shoulders that slow down traffic and pose an accident risk. The costs include
Define the aggregate price level in the macroeconomics. Aggregate Price Level: A nominal measure is a measure which has not been adjusted for modifications into prices
Why is the use of risk management techniques becoming increasingly significant in IS projects? IS projects: It is like projects in many other disciplines, are becoming i
How is supply related to opportunity cost?
Sampling and tests of significance are very important tools in business economics. In fact one cannot do any meaningful marketing research without the requisite knowledge of sampli
What is a bowed out shape? Why does a production possibilities frontier with increasing opportunity costa have a bowed-out shape?
Procedure for export under deferred paymet
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