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Question 1:
Write short notes on any FOUR of the following: (equal marks each)
(a) Law of diminishing returns (b) Barriers to entry (c) Consumption Function (d) Devaluation (e) Multiplier Effect (f) Phillips Curve
Question 2:
(a) Giving examples, explain what do you understand by products differentiation?
(b) Discuss the output and price determination of a firm in the short run and long run concerned with differentiated products.
Question 3:
(a) Explain why a firm involved in the steel industry may not opt for a ‘price war' at least in the short run.
(b) Discuss why a member-firm of a cartel is prompted to cheat in the long- run.
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explain the role scarcity of resources plays in economic decision making
Find 1-3 articles that discuss the competition between Target and Walmart.
The framework for the assignment should be relevant to the websites you have chosen and should consider one or two of the following: Segmentation methods to meet the needs of
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What is Frugal Economy
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