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QUESTION 1 i) Use a simple human capital model to explain the rationale for undertaking higher education ii) Why do some people vary significantly in the amounts of human ca
Explain the mixed economy system. Mixed economy: Several resources are owned through the public sector (government) and several resources are owned through the private sector o
What are the characteristics of growth in developed countries? Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below: • Gross
The Scenario You have just been appointed as the procurement consultant for a large multinational with operations based in Brisbane. Your superior, the Chief Financial Officer (
Your student union has decided to support a local charity by fund-raising on a Rag Day to be held in the town. Key events include a fancy dress relay race with teams sponsored by l
What are the assumptions of dependency theory? The assumptions of dependency theory: Dependency theory extends Marx is theory of surplus value to international relationship
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
1. A firm has segmented its market into the following demand functions: P1 = 500 – 50Q P2 = 500 – 20Q with a cost function: MC=AC =20 a. Determine the prof
impact of economic policies on decision of any organisation
How does colonial background influence the development process? Colonial experience influences: • Language for example the official language of US is English. • Legal and
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