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QUESTION (a) What are the characteristics of command and market economies? (b) In a number of countries in recent years, there has been a movement towards a greater reliance
Define the aggregate price level in the macroeconomics. Aggregate Price Level: A nominal measure is a measure which has not been adjusted for modifications into prices
Ask question critically evaluate the two main utility theories #Minimum 100 words accepted#
What is social cohesion? Social cohesion: Social cohesion is regarding how united, cooperative, connected and trustful a society is. This cohesion desires tolerance for c
What are the predictions of Lewis? For Lewis, Harrod Domar is right to emphasise the task of savings and investment although structural change and a new industrial sector are
What would course a fall in equilibrium price?
Question 1 Explain the law of diminishing returns. What are its causes and effects? Question 2 Compare perfect and imperfect markets Question 3 A monopolist with a linea
What is development process? Development process: Development is measured through outcomes that are development occurs while key indicators of human well-being enhance. Th
Is the Washington Consensus actually a consensus? The Washington agreement thinking dominates development thinking in the developed world but is challenged through less develo
Question 1: (a) Explain, giving examples, the law of diminishing returns, clearly bringing out the relationship between cost curves and product curves in the short run. (
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