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(i) Do the laws of economics still work today? (use the case discussed in class to answer this question or any other examples)
(ii) Provide examples of three factors that can shift the demand curve to the right.
(iii) Should governments be involved in price controls, such as setting the price floors or price ceilings? (explain main economic costs and benefits of such policies)
What is economics of information
Legal Sanction: A monopoly as stated above may be the result of a government sanction. The government of a country may legally permit a private monopoly or monopoly in the public s
Pragmatic Managerial economics Managerial economics is pragmatic. In pure micro-economic theory, analysis is performed, based on certain exceptions, which are far from reality
APPROACHES TO MEASURING NATIONAL INCOME The compilation of national income statistics is a very laborious task. The total wealth of a nation has to be added up and there are
Environmental issues factors This is governed by the below factors: The type of economic system of the country Business cycles Industrial policy of the countr
INSTRUMENTS OF CREDIT CONTROL The central bank employs several instruments to control aggregate credit in the country. While some instruments like the open market operations mi
U.S. retail industry, Arc Elasticity is correctly used to assess the dollar magnitude of net benefits of a decision to raise price/output combinations by 5% in the short and medium
want assignment on Elasticity of Demand:
Cost of Unemployment Unemployment is a problem because it imposes costs on society and the individual. The cost of unemployment to a nation can be categorized under three hea
Leading Economic Indicators The 11 key economic indicators that have been establish to lead business cycle turning points. Of the 11, four are basically used in business;
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