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What is Economics?
Economics is explained as the study of how people choose to use their scarce resources in an attempt to satisfy their unlimited wants. In other words, we have unlimited possibilities in life to do whatever we need, but we are limited by the resources we have to do these things.
Floating exchange rates There are two basic systems that can be used to determine the exchange rate between one country's currency and another's: a floating exchange rates (al
how pp curve can solve the central problems of an economy?
when average product is decreasing, marginal product is?
Costs: If raw materials, machines and other things required for production could be made available freely then the study of the theory of the production and indeed, the study of
What is development economics? Traditional economics studies the allowance of scarce resources among alternative uses. Development economics seems at the economic, politica
state 3 major assumptions which a production posibility is based
Why narrowness of definition of a commodity may influence price elasticity of demand
What is the problem of central economic
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law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
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