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explain the role scarcity of resources plays in economic decision making
What are the critics of advocates of World Bank in promotion of development? Critics of the World Bank argue: • A one-size-fits all strategy which does not take account
What is an alternative process strategy to the assembly line that Wheeled Coach currently uses?
New trade theory
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characterestic of economics
Can national income figures be used to make comparisons of standard of living among countries? National income measures the Gross Domestic Product of country and therefore can
What are the disadvantages of informal economy? Disadvantages of the informal sector are as illustrated below: • don’t pay direct taxes; • Can produce important pollutio
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 (a) In several countries recently, many people have become unemployed. Analyse the different types of unemployment in an economy. (b) Define inflation and explain i
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