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Are markets the best way of solving the basic economic problem? Justify your answer.
The core of the economic problem ( who, what, for whom) is something all societies must address. Planned economies solve it by central price and output setting, while market economies solve it by the price mechanism. Both systems have their basic flaws.
Another issue is that of market failure, and how society addresses this
Problem 1: (a) Critically examine the differences between the Neo-classical growth models and the endogenous growth theory. (b) Show the relevance of such models in explain
the basics in micro economics
Hydrogen, Alkali and Alkaline earth metals Lithium atom and ion are very small and are comparable in sizes to those of Mg. Their polarizing power (charge / radius) are almost t
a) Microeconomics is concerned with decision-making within the firm, household or on the individual level, but macroeconomics is concerned with the behavior of the whole economic s
Find the best response functions and the mixed strategies Nash Equilibrium if each player randomizes over his actions.
discuss how economic theory of marginal utility explains the optimum pattern of consumption for an individual consumer
Functions of the WTO: The WTO performs the following functions: • It administers through various councils and committees the 29 agreements contained in the final act of
what will cause a firms demand curve to shift: a a change in sellers profit associated with the good or service b change in technology for good cchange in non price variable in dem
Long Waves: Longer-term periods of stagnation or growth in the economy, that can last for a decade or more and reflect broader changes in technology, politics, and international re
please may you explain this concept
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