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Identify the four essential economic activities.
The four main economic activities are:
a) resource maintenance,
b) production,
c) distribution, and
d) consumption.
Cost Push or Supply Inflation: It is a situation where the process of increasing price level is caused by increasing costs of production which push up prices. Cost push infla
factor influencing quantity supplied
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
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explain 6 factors that determine volume of production
Labour Supply:Total number of workers available and willing to work in a paid position; generally measured by the labour force(even though the labour force usually excludes many wo
advantage dis advantage of pure monopoly
using the tools of an indifference curve and isoquent, highlight on consumption and production in business economics.
explain budget line?
What are the differences between the IS-LM model and the Keynesian model? The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium i
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