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relationship between tfc , tvc , tc
Define the implications of dependency problem. Implications of dependency problem: To escape exploitation, underdeveloped countries should gain political, economic and so
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explain how inflation could reduce the efficiency with which prices allocate resources.
Hatfield owned a large farm on which he grew grain. His combine was inadequate in relation to the acreage of grain that he harvested annually. As a result, on several occasions his
PROBLEMS OF LOWER INCOME COUNTRIES There are vast income and wealth disparities in world we live in. Approximately one-fourth of the world’s population accounts for the three-f
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
Problem 1 Discuss Privatisation in USA with some examples. Explanation of privatisation Advantages Disadvantages Problem 2 Discuss the basic differe
Define the difference between effort and elapsed time. What is the importance of this difference for project planning purposes? Effort is the whole volume of work included in a
How do economists differ from accountants in the use of the term profit ? Definition of rev and accounting costs Explanation/outline of opportunity costs, for example
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