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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.
Explain the statement "during the second quarter of 2010 Irish gross domestic product fell by 1.2%. According to given statement Ireland's gross domestic production fell down i
need assistance
QUESTION (a) (i) Define the velocity of circulation of money. (ii) By comparing the Fischer's Quantity Theory of money and Keyne's Liquidity Preference Framework, explain cl
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 restrictions of Lewis? The restrictions of Lewis: • Assumes complete employment in urban regions. Evidence recommend otherwise • Raised profits may be inves
Suppose a monopolist produces at constant marginal cost and is able to discriminate between two groups of consumers. The demand in each group is linear. Would the monopolist discri
State the term checkpoint in project management methods. Checkpoint in project management methods: The Checkpoint is the ordinary (probably weekly) meeting of a project o
What are Harrod-Domar restrictions? Harrod-Domar restrictions: • Non economic social, cultural, political and institutional circumstances are unimportant into growth pro
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
What are the assumptions of dependency theory? The assumptions of dependency theory: Dependency theory extends Marx is theory of surplus value to international relationship
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