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Problem 1: i) To what extent can a country actually rely on the principle of Comparative advantage before engaging in international trade? ii) Explain the different types
Transport Infrastructure: The development of transport infrastructure plays an important role in the growth process through increasing mobility of resources and increasing fac
Graphically illustrate how society decides on the number of police officers to hire
Consumer Choice * Consumers choose a combination of goods which will maximize satisfaction they can attain, given the some degree of budget available to them. * The maximiz
Question: There is widespread belief that the process of globalization has largely bypassed Sub-Saharan Africa, leaving the sub-continent in a state of marginalization in the w
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Q. Market Income and Socialism? Market Income: A household's total pre-tax income obtained from its activities in formal economy, including salaries andwages, investment income
National Income Determination: National Income Determination deals with what determines the size of a nation’s national income. The size of a nation’s national income is deter
discuss scarcity,choice and opportunity cost
Learning Curve in Practice * Scenario - A new firm enters chemical processing industry. * Do they: 1) Produce a low level output and sell at high price? 2) Produce
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