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Problem 1:
a. Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy.
b. According to you, which type of economic system is most desirable? Why?
Problem 2:
a. Describe, with the aid of a diagram, what is meant by the circular flow of income.
b. Explain the problems involved in using national income data to compare standards of living in different countries.
Explanation of the Break in Trend: An economy can grow in three different ways or all three ways may work simultaneously: 1) Horizontally, i.e., it may go on producing m
How base case NPV analysis is applied in financial risk management
how can a price ceiling make consumers better-off? under what conditions might it make them worse off?
Suppose Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. Assume the
explain nature of microeconomic
Q. Define Contribution Pensions? Defined Contribution Pensions: A pension plan which makes no specified promise about level of pension paid out after retirement. In its place,
Wealth: This is a stock of accumulated purchasing power stored up from the past. For example, if you have a fat savings account accumulated from your past earnings, your curre
Cropping Pattern Over Time: The dominance of food crops and among food crops that of rice and wheat only states the existing cropping patterns. It is important to study the tr
#question.explain three neccessary condition to achieve pareto efficiency.
What is the formula for heat and how do you solve it?
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