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QUESTION
(a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost.
(b) Distinguish between positive and negative externalities, illustrating your arguments with appropriate examples where necessary.
(c) Define the concept of economies of scale and discuss the different sources of economies of scale.
(d) Using demand and supply analysis, explain the influence of the imposition of a maximum price and a minimum price on a product on price and quantity.
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
What is all about The Optimal Rule
Discuss how income flows in governed economy
Question: (a) Describe the meaning of Business Process Outsourcing (BPO). (b) BPO deals mainly with non-core processes of an organization. Describe four of such type of pr
How can trade Liberalisation mean eliminating barriers? Trade liberalisation is the removal of trade restrictions for example tariffs, quotas and non-trade barriers is unsynch
Use short notes and illustrations to answer the following questions: i) Distinguish between an indifference curve and an isoquant ii) Distinguish between substitution and inc
What are the restrictions of Lewis? The restrictions of Lewis: • Assumes complete employment in urban regions. Evidence recommend otherwise • Raised profits may be inves
QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) What is market failure and why does it occur in an economy? (c) Differentiate, us
Question: Extract of the Speech by Mr Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, at the Swiss Banking Global Symposium, Zurich, 16 November 2012
uses of time series
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