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Explain the term Laissez-Faire
The term "laissez-faire" is used to explain an economic system where the government intervene as little as possible and leave the private sector to organise most economic activity by markets. Classical economists were great advocates of a laissez-faire system with minimal government intervention. They believed free markets were the best organisers of economic activity
Unions in a Competitive Market: Again, there a group of economists who will rely on the use of the competitive model to demonstrate the evils of unionization. The most regular anal
illustrate and discuss the implications of various market structures (competitive and non-competitive) for price determination
The production function for a firm is expressed as follows: Q = 800K - K 2 +5KL - 7750L + 10,000 Where Q is quantity of units manufactured, K and L are units of capital and
Employer’s Estimates of Future Manpower Requirements One of the parameters of demand for employment in a firm or a factory or an establishment is the level of capital investme
Lending Operations of World Bank: Resources of the Bank consist of the capital and borrowings. The capital of the bank is contributed by its 184 member-countries. Besides,
explain the concept economies/diseconomies of scale and minimum efficient scale
Explain externality, how can government intervene to achieve allocative efficiency in case of external cost or external benefit? Answer The term externalities refers to bot
Token Privatisation: This implies the sale of 5 per cent or 10 per cent shares of a profit-making public sector enterprise in the market with the objective of obtaining revenue t
what do you understand by production posibility curve?
explain and illustrate the changing demand for big mac using indefference curve and budget line
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