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What is the difference between absolute and comparative advantage? Difference between absolute and comparative advantage: • Absolute advantage arises while a country or reg
Problem: i) Evaluate the following statement: "The First Theorem of Welfare Economics states that as long as producers and consumers act as perfect competitors and there ar
What are the formal and informal sectors? Formal and informal sectors: Economic activities considered as to the government make up the formal sector of the economy. That
What is Monopoly and how does it affect the economic postively and negatively?
What factors would you consider while deciding on the frequency along with which you would report progress to (1) senior IS management, and (2) customer management? A main fact
What is structural change? Structural change: Structural change arises while the associate share of GDP and employment accounted for through the primary, secondary and te
concept ofexploitation of labour
function of economics
How is the social capital measured? Measurement of the socilal capital: Social capital is a latest, multidimensional, qualitative idea which is problematic to measure. Res
How does foreign debt management improve development? Borrowing is a policy to encourage growth like aid represents an injection of resources within the economy which enable
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