question 1a briefly explain and distinguish, Managerial Economics

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question 1a briefly explain and distinguish

Question 1:

(a) Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy.

(b) According to you, which kind of economic system is most desirable? Why?

Question 2:

(a) What are the basic causes of inflation?

(b) ‘There is a trade-off between unemployment and inflation.' Do you agree with this statement? Justify using appropriate diagrams.

Question 3:

(i) Analyse the main types of unemployment.

(ii) What measures will be taken to remedy the situation?

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