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Q. Central Planning of economic system?
Central Planning: An economic system in that crucial decisions regarding consumption, investment, exchange rates, interest rates and price determination are made by central government planners (instead of determined by market forces)
what do you meant by rent?
The "Battle of Sexes" is a famous game. The story is that a couple tries to decide what to do on a Friday evening. The girl prefers to go to an Opera and the guy prefers to go to t
WHAT IS PPC
1. Sam Smith owns an internet radio company that has subscribers in Houston and Dallas. The demand functions for the 2 markets are: Q(Houston) = 50-0.35P(Dallas) Q(Dallas) = 80-0.
Definition of Pareto Optimal Allocation
Government Production: Some production in the economy is undertaken directly by governments (or several kinds of government agencies) in order to meet public requirements (as disti
what happens when price is fix and there is a change of the supply and demand curve
You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a
Fiat money is not a new idea. Some European historians recognize the first use of fiat money in Europe resulting from gold and silver smiths issuing their customers receipts for g
Explanation
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