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if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
Problem: (a) "Economics is the study of how society decides what, how and for whom to produce". Describe the importance of opportunity cost to a society. (b) Distinguish bet
explain 6 factors that determine volume of production
How would the price mechanism decide resource allocation in a competitive (free) market? The main issue it to explain how the price mechanism has a signalling, rationing and ince
Problem: i) What do you meant by the term ‘economic efficiency'? ii) By using appropriate examples differentiate between fixed and variable costs. iii) Consider different
is south african economic system more allocative efficient?
Using a demand and supply diagram,analyse the effect on the market for Ghanaian football shirts. a. A fall in incomes in Ghana and neighboring countries
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Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
clarify the opportunity cost theory
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