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1 what are the vital functions of an economy explain the

1. What are the vital functions of an Economy? Explain the price mechanism.

2. Describe the kinds of Economic System.

3. What are the factors governing Price Elasticity of Demand? Explain.

4. Explain economic systems and resource allocation.

e the kinds of Economic Systems.

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Microeconomics: 1 what are the vital functions of an economy explain the

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