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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.
1. Imagine that two countries, Richland and Poorland can produce just two goods, computers and coal. Assume that for a given amount of land and capital, the output of these two pro
What are institutions? Institutions are formal organisations as like: • Government : the group of some people and institutions who control and manage a country Civic socie
QUESTION (a) Explain the Law of demand and the factors affecting demand for a product or service. (b) Explain and illustrate diagrammatically how the market demand for a pro
Why might the point at which the long-run average cost curve levels out change over long periods of time? include a diagram.
advantages and disadvantages of commercial banking
What do you mean by the term project milestone? How would you decide how many milestones to demonstrate on your project plan? Project milestone: A milestone is a point at
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Why is World Bank worked jointly with the International Monetary Fund? The WB works jointly along with the IMF to assist LDCs through coordinated: a. Structural Adjustment P
Identify the features of informal sector in African countries
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