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What are the economic and social costs of high inflation levels? High inflation will have serious redistribution costs; make distortions to the economy; decrease international
what are the concept of opportunity cost
how does the concept of possibility production curve aplicable in real life?
advantage dis advantage of pure monopoly
Composition of Trade: It is indicative of the structure and level of development of an economy. For instance, most of the UDCs depend for their export earnings on a few primar
Increase in Productivity and Real Wage Earnings: Labour has been charged that whereas it presses for higher wages through trade unions, it has failed to raise productivity. Sh
illustrate and discuss implications of various market structure(non competitive and competitive) for price determination
what is Law of Demand?
1. How can a nation and its producers determine whether or not it has a comparative advantage in producing a particular good or service? a 2. The above figure show
explain how the keynesian cross shows that the economy is susceptible to self-fulfilling prophesies, either positive or negative
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