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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.
how managerial economics is applied in a firm?
Evaluation of perfect competition arguing the effect on stakeholders, priorities and SR/LR
Discuss, using examples the economic consequences of a sudden monopolization of an industry that had been previously been competitive
What are the import substitution policies? Import substitution policies are as follows: Need trade restrictions for example, tariffs and quotas to defend infant industr
S M Construction has been awarded a contract to build a new manufacturing plant just outside Cardiff. The activity on arrow table below gives data on the activities involved in the
Development Strategies are explained as follows: Keeping the reasons for the persistent poverty in the LICs aside, there are three broad progress strategies which have been ado
The word of Keynesian -styles A Keynesian come about the rules creators on purpose look for to motivate additional than one of the modules of aggregate demand to improvement numbe
How can the role of government in development be assessed? Increasingly governments are judged through the outcome of their policies within achieving above average development
use of linear programming in decision making
How does population growth produce development? The impact of population growth depends upon the form: • By net migration. When the increase into population is highly skill
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