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|Date||Economics Homework Topic||Grade Scored|
|31st August 2022||Microeconomics Homework
Question 1: Explain the concepts of scarcity, choice, and opportunity cost as used in economic analysis
Question 2: Explain factors that cause a shift in Aggregate demand and supply and what they imply.
Question 3: What is the effect of the government's interference in the price of items by imposing price ceilings and floors on the economy?
|2nd September 2022||Macroeconomics Homework
Question 1: From the given figures, calculate the inflation rate and explain the cost of inflation in an economy
Question 2: Define and explain frictional, structural, natural, and cyclical unemployment and the measures of unemployment.
|5th September 2022||Game theory Homework
Question 1: Decision Trees. From the given figures, explain which decision should be made.
Question 2: Nash equilibrium. Explain the use of pure and mixed strategy in game theory.
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Concepts and Terms in Economics Although a student may have a reasonable understanding of the scope of economic science, he is unable to study the subject at any advanced level until he has mastered the meaning of the main economic terms. Due to this, the student might need to avail assistance with...
Why the economists are interested in population problems?The economist is interested in population problems, either on an international or national scale, for two main reasons:Production of goods and services depends on the labour force. Consumption depends upon the demand of the population for go...
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