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What is main difference between capital intensive goods and primary products?
Primary product means the major product in which the firm is dealing. Capital intensive good means the production of good in which more capital in included than labor.
Mixed Economic System and how can this system solve the economic problem, with example?
why the production curve is bowed outwards
a) Examine at least three (3) possible areas for the industry that could lead to transaction costs, and describe each in detail. b) Speculate about the behaviour that could
national income and what is used to measure it
Structure of the IMF: The Central office of the IMF is in Washington DC, USA. It has 184 members. It is affiliated to the UNO. The highest authority of the IMF is the Board of
Perfect competition: The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situation
what is the type of the firms
derivation of demand curve
How Airlines solve the perishability of unsold seats and what they do to their prices as the seats get close to perish?
Isoquants * Assumptions - Food producer has 2 inputs Labor (L) & Capital (K) * Observations: 1) For any level of K, output increases with L. 2) For any
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