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Problem 1:
All economies of the world can be said to be ‘mixed', to a greater or lesser degree, in that there is no economy where there is no state activity and no economy where the market has no role at all.
In light of the above statement, why do most countries choose to operate a mixed economy rather than a command or a market economy?
Problem 2:
a) Distinguish among price elasticity, income elasticity and cross elasticity of demand.
b) Discuss how knowledge of price elasticity, income elasticity, and cross elasticity might be of practical use to the owner of a supermarket.
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Benefits are: 1) People can create their own decisions 2) The government has limited control, which is good for arrangement 3) Gives freedoms like Enterprise, ownership,
with the of evidence comprehensively discuss the market structure in the south African mobile telecommunications industry
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