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QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) What is market failure and why does it occur in an economy? (c) Differentiate, us
Question 1 ‘The consumer is always king in the market place'. Critically examine this statement, highlighting the existence of market imperfections. Question 2 (a) Dis
What is the Monterrey Consensus? The World Bank estimates aid should increase by $50bn to resource the main aim of the Millennium Development Goals: containing the number of p
How does social capital influence development? Problem: Low social capital leads to potential conflicts and high transaction costs which hinder growth. Several LDCs (Less Deve
What is the current economic status of abaca farming?
different types of firms
What are the internal constraints on government action less developed countries? Internal Constraints on Government Action LDCs: • Have restricted domestic resources to ac
(i) Explain the term capital accumulation. (ii) Explain the different views on economic development. (iii) In the golden age of globalization countries, especially develop
analyse the effect of an increase in the price of sim cards on the equilibrium price and equilibrium quantity of cellphones handsets
Marris'' Model OF MAXIMISING POLICY
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