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Problem 1:
a. Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy.
b. According to you, which type of economic system is most desirable? Why?
Problem 2:
a. Describe, with the aid of a diagram, what is meant by the circular flow of income.
b. Explain the problems involved in using national income data to compare standards of living in different countries.
limitations
Outline the possible negative effects of import-substitution policies. Define and outline import-substitution; focus on reducing domestic reliance on imports by implementing hi
#question.case study of bain limt price theory
Question You are the COO at PineApple, a company that produces notebook computers for business people. The company has just developed a new model - Pbook. For production of P
What is meant by dumping? Dumping is when a producing country dumps goods on foreign markets at a price lower than either the price on the home market or below the cost (HL: ma
I purchase a used stove for $155 when I was willing to pay $185. If a new stove costs $375,what is my consumer surplus
Socio Economic conditions of country also affect the sales forecasting. They may include total national income per capita income standard of living of the masses, education, inflat
Determinants of reserve price
#question about International Buffer Stock Agreements, define International Buffer Stock Agreements with briefly. International Buffer Stock Agreements seek to stablise the commod
risk describe,prefrence towards risk,the demand for risky assets.consumer behaviour under asymmetricinformation
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