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How do economists group countries at various stages of development? There are three major forms of classifications: • IMF: Developing and industrial, transitional economi
what is the short run and long run effects of a new idea creating by a restaurateur i.e home cooking services in the perfect competitive market?
First-in First-out Method (FIFO) A technique of inventory valuation based on the concept that merchandise is sold in the order of its acknowledgment. In other words, if an elec
What is a developing economy? To say a country is developed or developing needs indicators. For illustration: • The World Bank classification utilises one economic indicator
features of monopolistic competition and oligopoly
What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space? What impact might this in
The Wallpaper Shop, Inc., is a rapidly growing chain of wallpaper shops that caters to the do-it-yourself home remodeling market. During the past year, 15 stores were operated in s
Assume Mr. Robinson deposits pounds 600 in currency at a bank. Later that day Ms. Volker borrows pounds 1200 from the similar bank. The money supply will have enhanced by pounds 60
QUESTION In several countries recently, many people have become unemployed. Analyse the different types of unemployment in an economy. Explain the likely causes and conseque
Applying economic concepts to situations at work. This writing assignment is intended to give you a chance to apply concepts to real economic situations. Think of these concept
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