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Explain how Monetarist economics views the role of markets and government intervention in fighting business cycles. Monetarist economics believes that the government should fol
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
how does the concept of possibility production curve aplicable in real life?
Explain why both the PES and PED tend to be inelastic in the short run for primary goods. PED deals with (primarily) the ability and propensity of consumers to switch to other
elasticity of demand of a product in different market forms such as perfect competition, monoply etc.
What are the various forms of aid a developing country might receive? Here the student must show clearly the difference between grant (donor) aid; reciprocal (tied) aid; bilat
ELEMENTARY THEORY OF PRICE FORMATION: DEMAND-SUPPLY ANALYSIS: We discuss the elementary theory of price formation. Demand curve in the market is derived from the aggregate con
Disadvantages of State Trading State trading has several disadvantages. (i) State trading is often afflicted by the corruption and inefficiency usually associated with the pu
TRADE policy: The well known economist D. H. Robertson has immortalized the role of trade in development with his famous statement that "trade is an engine of growth". The pol
types of market competitions
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