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What is the difference between economics and business?
Economics is the study of how we, the people, engage ourselves in production, distribution and consumption of goods and services in a society while; business is conducted to earn profit for our own use. Whatever we do to earn our livelihood is known as our business.
Problem: i) What might be the possible causes of inflation according to economic theory? ii) Taking stable prices and full employment as two macroeconomic objectives of gov
wHEN WAGE IS $6.05, HOW MANY HOURS ARE WORKED A WEEK?
Return on Equity: It's a measure of business profitability equal to net after-tax income divided by average level of shareholders' equity in the business. Sales Tax: A tax im
Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.
Suppose that investment spending increases by $10 million, shifting up the aggregate expenditure line and increasing GDP from GDP1 to GDP2. If the MPC is 0.9, then what is the chan
detail of consumer surplus with examples
What are the advantages of trade surplus
A firm has a short-run production function defined by: Q = -. 02L 2 + 8L What is the short run demand curve for labour (L) in terms of the market wage rate (w), if
Questions 1. Mrs Holt, 85 years old, has been admitted to acute care following a fall resulting in a fractured femur. She is a widow and lives alone with her three cats for compa
definition
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