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Card 6
Front
The price of lasagne increase by 20% and as a result the demand for red wine falls by 5%, we can conclude from this information that
Back
Card 7
Front
The price elasticity of supply of a product will depend on
Back
Card 8
Front
A multiple effect occurs when an initial change in government spending leads to a larger change in the level of
Back
Card 9
Front
There is an output gap when
Back
Card 10
Front
An increase in imports of consumer goods is most likely to have been caused by a
Back
Card 11
Front
Positive externalities exist when
Back
Card 12
Front
When an economy operates on its production possibility frontier (PPF), it is
Back
Card 13
Front
economics is primarily concerned with the study of
Back
Card 14
Front
In a market based economy the scarcity of factors of production means that
Back
Card 15
Front
In economics it is generally assumed that the main objective of frma ia to
Back
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