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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.
What is the failure effectiveness of World Trade Organisation in the promotion of development? Failure effectiveness of World Trade Organisation in the promotion of developmen
What are the disadvantages of informal economy? Disadvantages of the informal sector are as illustrated below: • don’t pay direct taxes; • Can produce important pollutio
What is meant by the term value tree? Value Tree: A value tree gradually decomposes the overall objectives of a project within more exact objectives which can be agreed through
QUESTION (a) State whether the following statements are TRUE or FALSE. Clearly explain your answer. (i)The Keynes liquidity Preference theory stipulates that money demand is
What is dual economy and development in an economy? Development in an economy: Differentiated or uneven development arises while the benefits of growth are not shared ev
A transition economy is Moving from a planned to a mixed or free market economy.
Explain about the influence of warranty and political pressure in IS project. Warranty: When a system is being developed under contract, this frequently carries a warranty
How does economic system influence the development process? The development experience of free market or capitalist and command as socialist/communist countries is extremely d
Define the process of setting objectives. What might be objectives for a newly appointed junior programmer? A hierarchy of objectives cascades down through the overall intend o
Calculate the expected yields for a (1,4,2,1) path
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