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Explain the concept of externality in economics? Give one example of a positive and a negative externality in Australia.
A promoter decides to rent an arena for concert. Arena seats 20,000. Rental fee is 10,000. (This is a fixed cost.) The arena owner gets concessions and parking and pays all other e
price output determination under monopoly explain
What is the meaning of demand In economics, demand has a specific meaning distinct from its ordinary usage. In common language we treat 'desire' and 'demand' as synonymously. T
Define scarcity and opportunity cost. Show how these concepts are useful in managerial decision making
Foreign Exchange Markets It is the place where buyers and sellers meet to negotiate the exchange of different currencies e.g. forex bureaus. Exchange Rates These are
Describe the Status goods of law of demand The law doesn't concern the commodities that function as a 'status symbol', add to the social status or exhibit prosperity and opulen
discuss baumols dynamic models
how realistic is the sales maximization model from experience with business objectives as pursued by Zimbabwean firms
gap between economic theory and business practice
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