What is an Economic Territory
Economic Territory: This refers to the region of a country where there is a free movement of goods, capital and human resources.
The Wealth of Nations that a pioneering survey of economic treated was published within: (1) 1849 year, and written by Karl Marx. (2) 1936 year, and written by John Maynard Keynes. (3) 1776 year, and written by Adam Smith. (4) 141 BC,
What are the determinants of demand?
Who will get the goods and services?
Define the term Abstractions in economics?
Briefly describe the term cost of capital and also illustrate out its significance?
Specify and explain the shapes of the marginal-benefit and marginal-cost curves and use these curves to determine the optimal allocation of resources to a particular product. If current output is such that marginal cost exceeds marginal benefit, should more or l
Elucidate reallocation of Government resources?
Illustrate a summary of what can cause a decrease in demand?
Explain determining the types of the various products that will be produced?
A laissez-faire government is restricted to finding: (1) property rights within a simple fashion and to enforcing private contracts. (2) market prices which guarantee equitable resource allocations. (c) how resources will be allocated efficiently. (4)
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