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1. Why does the quantity of salt demanded tend to be unresponsive to changes in its price?
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What is the difference between an essential and adequate condition for growth? Essential and adequate conditions are helpful analytical and evaluative elements. As like exampl
Question 1: ‘The WTO was set up with the intention of regulating international trade between countries'. How successful has the WTO been in attaining its objectives? Questi
You are given the following functions in a fully competitive market: Market demand function: Qd = 20 – 3P Market supply function: Qs = 4 + P Where P is price A) In which price s
Can national income figures be used to make comparisons of standard of living among countries? National income measures the Gross Domestic Product of country and therefore can
Is telecommunication is elastic or inelastic ???
What is Balanced Growth theory? Balanced Growth theory: This theory argues that market is not capable to deliver growth. State approaches to development are needed since
Is the balance of payments a problem? A persistent balance of payments shortage is bad when used to finance consumption, but good when financing imports of suitable capital wh
Is structural change a problem? Economies are dynamic and adapt to meet evolving consumer wants needs. This means resources are moved from use to use in response to, say, chan
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