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Markets are often classified in terms of the nature of competition and collaboration they facilitate. In economic analysis, if the elements of competitions are “pure” then the mark
what microevrionmental factors have affected Sony''s performance since 2000
QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) Distinguish between centrally planned, laissez-faire and mixed economic systems rega
Subcontracts frequently include penalty clauses to provide the main contractor defence into the case of the supplier’s poor performance. Why are penalty clauses not the complete an
what do you call an entrepreneur using someone elses ideas to start a business
Is the Washington Consensus actually a consensus? The Washington agreement thinking dominates development thinking in the developed world but is challenged through less develo
Why do countries trade? International trade is the swap of goods and services among countries. Trade enhances consumer choice and complete welfare. Various countries have v
What are state approaches to developing? The government supposes responsibility for economic planning to attain the best possible utilize of scarce resources. An economic plan
QUESTION (a) Explain the term Balance of Payments (BOP) and how a government would intervene to correct a BOP deficit. (b) Explain the protectionist measures that a governme
What is import substitution? Import substitution: It is a government industrialisation policy for development by replacing imports along with domestic production. St
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