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Question 1:
(a) Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy.
(b) According to you, which kind of economic system is most desirable? Why?
(c) Analyse the public and private sector solutions to the problem of externalities.
Question 2:
(a) What are the basic causes of inflation?
(b) ‘There is a trade-off between unemployment and inflation.' Do you agree with this statement? Justify using appropriate diagrams.
(c) Mauritius is actually facing a problem of high unemployment.
Question 3:
(i) Analyse the main types of unemployment.
(ii) What measures will be taken to remedy the situation?
Analysis of unemployment in relation to economics
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Consider the following table. It shows the market shares of seven clothing stores (A to G) in five dissimilar cities. a) Calculate the Herfindahl index (?H) for each city.
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Prices of the factors of production As the prices of those factors of production used intensively by X producers rise, so do the firms' costs. This cause supply to fall as some
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A cut in price from Br 1.50 to Br 1.20 leads demand for a product rise by 10% What would the price elastic of demand before this product ? interpret the result by identifying the t
what are the Sources of public debt
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