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Write short notes on any FOUR of the following: (equal marks each)
(a) Law of diminishing returns (b) Barriers to entry (c) Consumption Function (d) Devaluation (e) Multiplier Effect (f) Phillips Curve
(a) Giving examples, explain what do you understand by products differentiation?
(b) Discuss the output and price determination of a firm in the short run and long run concerned with differentiated products.
(a) Explain why a firm involved in the steel industry may not opt for a ‘price war' at least in the short run.
(b) Discuss why a member-firm of a cartel is prompted to cheat in the long- run.
Explain, using the example of museum visits, own price, cross-price and income elasticity of demand; consider own price elasticity for various demographic groups. Use diagrams wher
explain ththe test marketing approaches followed by fmcg companys
What is the main danger in placing countries together in the same grouping? It is useful to classify countries by groupings for identification of common problems and policy pu
What is capital accumulation? Capital accumulation simply implies an increase into a country is stock or amount of capital over time. It requires net investment, which is inve
Are patterns of trade a problem? Generalising Less Developed Countries have a comparative advantage into primary products and employment intensive manufacturing; Developed Cou
B. Complete the following table
Problem (a) What do you meant by Contract Management and what is the central aim of contract management? (b) Show the end-of-contract options and describe the cost involve
What is poor governance? In countries along with poor governance: • The rule of law has not working for example civil war and areas run by war lord • Bribery and corrupti
What is matrix algebra, give some examples and its types
Task You work for a government of a European country that is considering making admission to museums of your country free to make them available to everybody. You have deci
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