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Explain why goods provided by natural monopolies are often publicly owned.
It would seem that most normal monopolies come with high MSB and also that society has deemed these goods far too societally significant to be owned/operated by private interests. Therefore, water, gas, sewage, public transportation, telecom etc, is often wholly in the hands of government or local municipal ownership - or at least control.
The main features of outward-oriented and inward-oriented development strategies. Inward- oriented as focus on reducing domestic reliance on imports by executing high barrier
Q. What is Gini Coefficient? Gini Coefficient: A statistical measure of inequality. A Gini score of 0 signifies perfect equality (in which each individual receives the same inc
Q. What is Gross Domestic Product Per Capita? Gross Domestic Product, Per Capita: Level of GDP divided by the population of a region or country. Changes in real GDP per capita
ADMINISTRATIVE REFORMS - ECONOMIC POLICY: During the last few decades, phenomenal changes are taking place at a fast rate in the field of science and technology as well as in
what is risk diversifications
The Cost Minimizing Input Choice - Assumptions Two Inputs: Labor (L) & capital (K) Price of labor: wage rate (w) The capital price - R = depreciation ra
Select a news article dated within the previous two months and analyze the issue using the economic concepts and theory learned in this class
characteristics of microeconomics
Explain how a country can peg (fix) its currency to another currency. Explanation of a pegged/fixed currency should centre on how the central bank uses the currency market mech
Reasons for development planning: To maximize the utilization of economic resources: The resources of any nation are not always enough for her use. In this wise, resources mus
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