questiona explain the 3 different ways of
QUESTION
(a) Explain the 3 different ways of calculating national income.
(b) Does the National Income figure accurately reflect the living standard of a population? Discuss.
(c) Analyze the different causes of inflation in an economy.
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questiona explain the law of demand and the factors affecting demandb explain and illustrate how demand of a commodity will change if there is a tax
questiona explain the 3 different ways of calculating national incomeb does the national income figure accurately reflect the living standard of a
questiona state and explain the assumptions of a perfectly competitive marketb analyse the effects on the firms profit and output of an increase in
questiona differentiate between returns to factor and returns to scaleb in the long-run the average cost curve is u-shaped discussc whenever a firm
questiona explain with the use of appropriate techniques how can an increase in investment spills over to other sectors in the economy and what
questionexplain the relationship between scarcity choice and opportunity costin a capitalistic system consumer sovereignty is the key explain and
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