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What is the difference between economics and business?
Economics is the study of how we, the people, engage ourselves in production, distribution and consumption of goods and services in a society while; business is conducted to earn profit for our own use. Whatever we do to earn our livelihood is known as our business.
The government notices that there is an output gap and decides to increase government spending with a stimulus package of $4 trillion in hopes that it will spur growth and stop une
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Questions (i) You are an industry analyst. Last year, the production cost of Microprocessor increased remarkably due to labor unionization. Nevertheless, the industry experie
If at point A sacks of rice is 205 and sacks of corn is 0. What is the decrease in rice production?
derive demand equation
#q The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
what happen when a supply shift to the right on a graph
Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic cooperation and development) countries, Potter and Diamond (1999) pointed out
Identify the four essential economic activities. The four main economic activities are: a) resource maintenance, b) production, c) distribution, and d) consumpti
how can draw the table and diagram of production function function with one veriable
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