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QUESTION
(a) Explain the relationship between scarcity, choice and opportunity cost.
(b) Distinguish between centrally planned, laissez-faire and mixed economic systems regarding the resource allocation problem.
(c) According to you which of the above three economic systems is the best? Justify your answer.
Define economies grow of less developed countries by developing its secondary sector. Less developed countries economies grow by developing its industrialising: Manufacturi
what are the abstracting and indexing services in social science?
Is structural change a problem? Economies are dynamic and adapt to meet evolving consumer wants needs. This means resources are moved from use to use in response to, say, chan
The economy of Cotai contains 2000 $1 bills. (a) If people hold all money as currency, what is the quantity of money? (b) If people hold all money as demand deposits and bank
how managerial economics is applied in a firm?
Why is the growth rate and significant for development? The rate of economic development is the percentage increase within real GDP over twelve months. • The higher rate of
Sampling and tests of significance are very important tools in business economics. In fact one cannot do any meaningful marketing research without the requisite knowledge of sampli
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
constraints
What kind of project management would you require to deliver to have people volunteer to work on your projects? The leadership challenge is to suppose that everyone working ont
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