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What causes an upward movement all along a demand curve of a commodity?
Illustrate the meaning of Nominal GDP and Real GDP. Which of such is the indicator of the economic welfare?
Describe the relation between marginal revenue and average revenue if a firm is capable to sell more quantity of output
Describe the shape of a production possibility frontier. Describe the Central problem ‘how to produce’.
What will be the impact of raise in the excise duty on the Equilibrium Price and Quantity of a Commodity? Illustrate by using a diagram.
Describe the determination of the Equilibrium Price under Perfect Competition with the aid of Schedule.
By using a hypothetical illustration, describe how the Market Supply Curve is determined from Individual Supply Curve of the three firms?
The Price elasticity of Supply of a commodity is 2. If its price drops from Rs 10 to 8 per unit, its Quantity Supplied drops by 500 units.
Illustrate when the Elasticity of Supply of commodity is equivalent to Unity?
Clearly describe the relationship between Poverty, Economic Growth and Inequality. Using instances of Least Developed Countries, describe the causes and consequences of market failures.
Discuss and explain the implications of this regime for emerging countries like Mauritius. Describe why the policy rule is not credible and discuss the solutions to overcome this problem.
Describe the term inflation and elaborate on the dissimilar types and causes of inflation. How are inflation measured and why a high rate of inflation is considered to be a major problem?
What do understand by the law of diminishing returns? Make a distinction between fixed and variable costs, using instances.
Explain the concept price discrimination? Discuss the views which price discrimination always operates in public interest.
Write down the steps which are involved in consumer decision process? Describe the Howard, Engel Kollat and Blackwell model of consumer behaviour.
Distinguish between ‘static efficiency’ with ‘dynamic efficiency’. Write down the benefits and costs of conserving forests.
Enumerate the limitation of GNP as indicates of development. Explain the importance of primary factor in development.
What is Leontief Paradox? Name three of the attempted reconciliations of Leontief’s findings. Explain one of them.Describe different reasons why we might expect countries to engage in intraindus
Difference between a country's Gross National Product (GNP) and its Gross Domestic product (GDP) is.
If bank is selling Euros for $0.89, then determine the implied euro price of the dollar?
Security purchases in United States by foreigners is: a credit item in the current account or a debit item in the financial account.
Describe the importance of foreign trade for economic development of an economy. Briefly explain the needs for capital intensive technology.
State and describe the law of diminishing marginal utility. What are the controls over monopolist from charging a very high price? What do you mean by Pareto optimum?
Show that the exponents of Cobb-Douglas production function are a measure of the factor share in output and also the elasticity of output with respect to the factor.
Compute Karl Pearson’s co-efficient of skewness for the following data: 25, 15, 22, 40, 26, 25, 23, 25, 20.