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What two important functions are performed by the price system?(1) The price system is an automatic method for distributing goods and services.
(2) The price system defines the allocation of resources between producers and the final mix of outputs.
Dependence on agricultural production: Dependence on agricultural production and primary product for exports. The external sector comprises Imports and Exports, Ghana shows de
Duality Theorems: The relationship between the direct and indirect utility functions may be described by a set of duality theorems. The following illustrative theorems are pro
to what extent are interest rates determined by the economic theory
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What is the concept of the development? The concept of the development: Development is a complicated multi-dimensional concept to do along with enhancements in the human
Australians are turning to scooters to combat escalating petrol prices. After a slump in the March quarter this year, demand for scooters was up by more than 7 per cent in the firs
Average Total Cost (ATC): ATC is the total cost per unit of output. ATC = TC/y = (TFC + TVC)/y = AFC +AVC ATC falls sharply at the beginning of the production process because
there are 1 million hours of labor available for making cars in the north, and another 1 million hours of labor available for making cars in the south. in a no-trade world, let''s
Assess whether market economies have been more successful than planned economies in providing welfare for citizens. The student is expected to outline some of the basic issues
draw the demand curve,when there is rise in the price of a product on the demand of the product
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