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Q. What is Economic efficiency? Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is th
Question 1: Define the concepts price elasticity of demand, income elasticity of demand and cross elasticity of demand and explain how these concepts can be useful to the man
Identify path of growth and development to economic maturity.
The market for labor can be studied use a supply and demand framework. The demand for labor is from employers who use labor to produce goods and services. The supply of labor is
Why were there not any sustained increases in material productivity of human labor back before 1500? Since improved technology quickly ran aground on resource scarcity. As huma
scope of microeconomics
Nile.com, the online bookstore, wants to increase it''s total revenue. One strategy is to offer a 10% discount on every book that sells. Nile.com knows it''s customers can be divid
Returns to Scale in Carpet Industry * The carpet industry has grown from the small industry to large industry with some large firms. * Question - Can the growth be illu
What should be the decent/appropriate growth rate in any country? Answer: A growth rate of among 2-3% is considered normal for mature developed countries; for LICs, 5-7% is
Creating Mobile Telephone Infrastructure: The second concept of subsidising the telecom infrastructure required for providing services in rural and remote areas is designed to
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