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Describing Risk
* To measure risk we should know:
1) All the outcomes which are possible.
2) The probability that each outcome will occur.
* Interpreting Probability
- The probability of the given outcome to occur * Interpreting Probability
- The probability which the given outcome will occur
- Objective Interpretation
- Subjective
- Different information or abilities to process the same information can influence subjective probability
(a) Describe the different types of inflation in a country. (b) Describe the trade-off between inflation and unemployment, using appropriate diagrams. (c) Mauritius has bee
what is the indirect utility/
Sally recently finished her full time training and received certification as a nurses aid at the end of august.
Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
Instructions to Students 1. Answer all the questions, using economic models where appropriate. Begin a question on a new page. 2. Please attach a copy of the assignment cove
Discuss about the language and methods of mathematics in modern economics. Language and Methods of Mathematics: This section reviews some fundamental mathematics results
What are the factors that producers in the society may take into consideration when deciding on the what to produce,how to produce and for whom ?
GOVERNMENT FINANCE: UNION AND STATES: The fiscal position of the Governments - both Centre and States - has been under stress since the mid-1980s. The stress stems from the i
Why narrowness of definition of a commodity may influence price elasticity of demand
U+v, UV, u/v
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