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Explain the Human Development Index
Introduced by the UN in 1990, the index take into account not only the goods and services formed but also the ability of a population to use these and the time they have to enjoy them. It is a composite index based on real GDP per capita (PPP), life expectancy at birth and educational achievement that calculates socio-economic development.
It is necessary for the proper understanding of the price theory to know the various concepts of cost that are often employed. When an entrepreneur undertakes production of a commo
What are the economic and social costs of high inflation levels? High inflation will have serious redistribution costs; make distortions to the economy; decrease international
merits and demerits of international trade
Choosing Inputs How to minimize cost for the given level of output. We can do so by combining Isocosts with Isoquants Producing a
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sources of oligopory
Illustrate the Economic Growth Up until 1800 growth rates of human populations were glacial. Population growth between 5000 B.C. and 1800 averaged less than one-tenth of a perc
given that a=(4;2) and b=(5;11)determine the value of x in the following equation b=3x-1/2a
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commodi
Formulate the consumption function for Mauritius using appropriate theories and suggest values for the coefficients of the independent variables based on theories. Given it’s a tim
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