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QUESTION
(a) Explain the relationship between scarcity, choice and opportunity cost.
(b) Distinguish between centrally planned, laissez-faire and mixed economic systems regarding the resource allocation problem.
(c) According to you which of the above three economic systems is the best? Justify your answer.
Hatfield owned a large farm on which he grew grain. His combine was inadequate in relation to the acreage of grain that he harvested annually. As a result, on several occasions his
QUESTION 1 Learning has always been at the centre of improved performance in organisations. Taking an organisation of your choice, discuss how E-learning might be an efficient
Question 1: a. Describe the role of trade union in the wage bargaining process. b. Formulate a model that tests for the wage gap between union and nonunion earnings in a
XYZ is a company that produces a variety of medical appliances for hospital and home use. It has experienced a steady demand for its products, which are highly regarded in the heal
what is the short run and long run effects of a new idea creating by a restaurateur i.e home cooking services in the perfect competitive market?
what is money supply
Identify the features of informal sector in African countries
(a) Name three types of government interventions and 3 economic factors affecting the business environment and with given example explain how these affect the business environment.
How do we identify if an institution or development policy works? Institutions and policies have goals. Successful policies and institutions meet stated objectives in a specif
What do you believe are the consequences of a rating downgrade?
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