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Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
INDIVIDUAL DEMAND * Price Changes - Using figures developed earlier, the impact of a change in price of food can be shown by using indifference curves. Effect of Price
What are the advantages of using mathematics in Modern Economics? Many of the advantages of using mathematics are as follows: a. The “language” used and the explanations of
Question: You are required to perform an economic feasibility study for a project involving the setting up of an information system in a company. The table below summarises th
Define the Production Possibilities Curve
ASIAN DEVELOPMENT BANK; In addition to the World Bank family, there are three other international lending agencies operating only in specific geographical area, but run on lin
Resilience in Addition to Strength: The BOP has been in overall surplus since 1996-97 with forex reserves rising, on an average, by $8.50 billion per annum during 1996-97 to 2
Explain inflation, and the difference between anticipated and unanticipated inflation. Answer Inflation is the persistent rise in the general price level in the e
How dose PPC help, illustrate the basic economic problem?
Problem 1: (a) Differentiate between positive and negative externalities? Justify your answer using examples. (b) To what extent do government policies influence externali
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