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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
What is the theory of absolute and comparative advantage?
relationship between total utilities and marginal utilities
When measuring price levels in the economy (such as when calculating the CPI index), why is a weighted average used? Because we require giving greater emphasis to prices at whi
critical evaluation of marginal analysis
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Problem 1: i) To what extent can a country actually rely on the principle of Comparative advantage before engaging in international trade? ii) Explain the different types
using necessary and sufficient conditions explain consumer equilibrium diagrammatically as well as mathematically
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