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QUESTION 1:
Assuming that you are a consultant on the ‘Light Rail' project and you are asked to forecast demand for this mode of transport. What are the forecasting techniques that you may consider to use?
QUESTION 2:
Explain the importance of a knowledge of elasticities of demand and supply for
a) a manufacturer of mobile phones b) a stakeholder in the sugar industry or in the textile industry c) the Minister of finance
With a background from the previous section we now study some of the critical characteristics of policy process. You have already studied earlier various technical theories relatin
Question: (a) Jeffrey Sachs, Columbia University's Earth Institute Development Guru, opines that the humble mobile phone is "the single most transformative tool for developmen
concept of indifference curve
Consider a case, if an insurance company merges with a bank. We know that insurance company bears risk for insurers. Suppose, after merger, bank gets in some trouble for reasons ot
with the aid of labelled production possibilty frontier explain the concept of opportunity cost
how do a traditional economy, a market, a centrally planned economy, and a mixed economy differ?
(b) Assess the application of Kaldor’s compensation principle in resolving Pareto non-comparability and explain how the principle differs from the Hick''s compensation principle
examples of inductive method in economics
Define the concept of economic growth?
Question 1 Legislature, most commonly known by the name parliament, forms the first important organ of a political organization and to hold this position it performs certain func
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