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Identify the four essential economic activities.
The four main economic activities are:
a) resource maintenance,
b) production,
c) distribution, and
d) consumption.
The definition of a price maker is a "firm with some power to set the price because the demand curve for its output slopes downward", which in effect, means those firms with a down
what is stagnation thesis?
Privatisation in the narrow sense can take several forms: a) Total Denationalisation: This implies complete transfer of ownership of apublic enterprise to private hands. Some
What is significance of methodological economics...
determine if completeness and transitivity are satisfied for the following preferences defined on x=(x1,x2)and y=(y1,y2);if x>y or x=y and x2>y2,if for min{x1,x2}
The law of supply is that producers will supply more the higher the price of the commodity. The supply curve is an upward sloping function showing a direct relationship among pric
A surplus on the current account of balance of payments can be financed by? 1. Inflow capital on capital account 2. A surplus on the government budget deficit 3. lending abroad on
The reaction of nitrogen dioxide with fluorine 2 NO2 + F2 2 NO2F is first order in NO2 and first order in F2. Complete the rate law for this reaction in the box below. Use the f
Select the production possibilities curve for an economy with 42 units of labor
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
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