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Defined Benefit Pensions: A pension plan that pays a specified monetary benefit, generally based on a pensioner's years of service and their income at the time of retirement.
Explain the meaning of the statement "coffee and tea are close substitutes".
suppose a firm''s total revenue depends on the amount produced (q) according to the function R= 70q-q2 total cost dependson q: C=q2+30q-q2
Are markets the best way of solving the basic economic problem? Justify your answer. The core of the economic problem ( who, what, for whom) is something all societies must add
Formal and Informal systems - MRP System Most production systems are full of 'pushes' and 'pulls'. The formal system issues orders, ie 'pushes'. The informal system tries to
what is demand
A control in economics means a steady profit rate that is enhancing. Thus, after one year you could have £1mill profit then the next year £3mill profit etc.
an increase in immigrants
what are the uses of cross elasticity quantity in demand/
What is the difference between 'concept' and 'assumption'? These two terms are very dissimilar. The term 'concept' refers to an idea or abstract principle. For instances, forc
what are the advantages of a monopsonistic labour market
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