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Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
Problem 1: a. Describe the term ‘inflation' and explain the relationship between money supply and inflation. b. Describe the conditions and processes that are associated wi
1. Through graphs describe the relationship between the price, P , and the average total cost, ATC , for a firm in perfect competition when it earns an economic profit; earns a n
Moving Average Methods: Under this methods the moving average to the sales of the past years is computed. The computed moving average is taken as forecast for the next year or peri
what are the types of economic analysis
two or more variable inputs
illustrate and explain the changing demand for big mac using the indifference curve and budget line
Pure Monopoly: Pure monopoly examined the market structure that is generally regarded as the polar opposite of perfect competition – i.e. the monopoly model. Like the perfect
Mediterranean Regional Project (MRP) Technique This technique had been initially employed by the OECD (Organisation of Economic Cooperation and Development, Europe) to prepare
what are the forecasting techniques
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