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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.
The average amount of debt families have is 2.5 times their annual income with a standard deviation 0.75 times their annual income. How much debt does a family have to have (relati
What is meant by the term exception reporting? What are the advantages and the drawbacks of this type of reporting? Exception reports concentrate onto what has not gone as per
Ask quWhich one of the following is TRUE? a. Small changes in the annual growth rate amount to a measurable difference in the long-term growth trend of a country. b. For ev
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
AsEvaluate the implications of implementing this ideal product mix in Transnet Freight Rail.
Is industrialisation significant in the process of development? Industrialisation is considered as a major driver of LDC development. Industrialisation arises while a predomin
How does foreign direct investment (FDI) help development? Foreign direct investment (FDI) shows an injection of resources in the economy. When those resources are used to rai
What is the difference between wealth and income? Difference between wealth and income: • Wealth , which is a stock value that is the current value of assets for example b
What is the Marshal Plan? Marshal Plan: The Marshal Plan noticed massive aid to post war Europe that led to quick recovery. That Marshal Aid helped but the accurate social
you are appointed secretary of the treasury of recently indepent country called rugaria
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