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What are economic systems?
An economic system is the system of organisations utilized by a society to solve the economic difficulty of what how and for whom to make. There are four types of economic system.
a. Traditional economy
b. Free market economy
c. Planned or command economy and
d. Mixed economy
Explain how getting right price affected the market for promoting development. Getting prices right implies: • Abolishing price controls as well as subsides on fundamentals.
what is money supply
QUESTION a) Explain with the use of appropriate techniques how can an increase in investment spills over to other sectors in the economy and what affects the final impact on ec
QUESTION a) Differentiate between returns to factor and returns to scale. b) In the long-run the Average Cost Curve is u-shaped. Discuss c) Whenever a firm is making loss
Explain, using the example of museum visits, own price, cross-price and income elasticity of demand; consider own price elasticity for various demographic groups. Use diagrams wher
constraints
function of economics
The government spending on given goods and several services including public. This is government spending on state-provided goods and services including public and merit goods. Dec
A1. Given the following production function Level of fertilizer Level of maize 0 0 1 44.9 2 83.6 3 110.1 4 127.3 5 136.9 6 139.9 7 137.1 8 129.2 a) Calculate the APP, MPP and elas
Consider the following four CP investors: Series A: $5m FV (and 2X liquidation preference) or converts to 5m shares; Series B: $10m FV or converts to 8m shares; Series C:
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