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relationship between tfc , tvc , tc
QUESTION (a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost. (b) Distinguish between positive and negative externalities, il
What are colonial background countries of the development process? A colony is a country controlled by other. Various European countries had extensive empires as: • Latin
1. How would you describe a market economy? 2. What distinguishes a market economy from a command economy? 3. Is there a role for government intervention in the Australian econ
Evaluation of perfect competition arguing the effect on stakeholders, priorities and SR/LR
Question 1 ‘The consumer is always king in the market place'. Critically examine this statement, highlighting the existence of market imperfections. Question 2 (a) Dis
What are the predictions of balanced growth? When government can co-ordinate immediate investment in several industries one firm gives a market for another. It needs state pla
QUESTION Explain the relationship between scarcity, choice and opportunity cost. "In a capitalistic system, Consumer Sovereignty is the key". Explain and discuss this sta
get assingnment
If nominal GNP enhances at a rate of 10 per cent per year whereas the GNP deflator enhances at 8 per cent per year then show how much real GNP rises. Explain?
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