EFFECTS OF CENTRAL RIFT GEOLOGICAL FORMATION ON ECONOMIC ACTIVITIES a) Farming At the floor of the central rift‚ the volcanic soils that have been eroded from the top of the mountains like menengai‚ has been put into use through farming. There is wheat farming in Nakuru‚ maize plantations‚ Irish potato growing in the central rift due to fertile soils which support the growth of the crops. Also there is tea growing in Kericho as a result of its favourable physical factors such as climate‚ rainfall
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AS AN ECONOMIST DISCUSS HOW THE 2013 BUDGET SPEECH HAS ADDRESSED OR NOT ADDRESSED THE PROBLEMS OF LOW ECONOMIC GROWTH‚ ECONOMIC DIVERSIFICATION AND UNEMPLOYMENT IN BOTSWANA ECO 322 ASSIGNMENT 2/1/2013 OFENTSE JIMMY SEEMULE ID:201000445 INTRODUCTION The budget speech is important information for the nation‚ and other countries‚ because it is able to attract both local and foreign investors‚ therefore it is imperative that issues addressed by the budget speech be clear‚ truthful
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Use Define the economic problem. Explain how individual consumers‚ business firms and the government are all faced with the economic problem. Identify the different economic factors that influence how each group seeks to address this problem. The economic problem occurs because of the fact that the supply of resources used to produce goods and services are limited or finite but there is an infinite amount of demands and wants of individuals. In other words‚ the economic problem is consequence of
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INTRODUCTION Central Banking is one of the most useful institutions which human ingenuity has developed to help the society in managing its collective financial affairs. Every country‚ these days has a Central Bank which controls its entire banking system. Few countries had a Central Bank in the 19th century‚ but the popularity of the Central Bank has greatly increased in the 20th century. Today‚ there is hardly any country in the world which does not have a Central Bank of its own. After the
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Economic Problems of Pakistan since 1947 1. The duration of economic coordination in 1947-1953 2. The duration of planning board 1953-1958 3. The duration of powerful planning commission in1958-1968 4. The duration of decline of planning commission in 1968-1980 5. Attempt at revival of planning commission. PERIOD OF ECONOMIC COORDINATION (1947-1953): First of all economic planning development was established in1948. In order to Act as clearing house and to establish economic coordination
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Chapter 2 Economics Problem Production Possibility Frontier (PPF) -boundary between those combination you chose to produce - there is a limited about of production capabilities -curve/ boundary for production possibility - the points inside curve are attainable -all points outside ppf are unattainable Production Efficiency -using resources to maximum capacity -efficiency means that if you increase production of pizza means you must give up cola (only way—no extra resources to use)
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12/6/10 AUTHOR’S NOTE: CENTRAL PARK The general topic of this book falls under the category of the “Gilded Age”. This particular period of time took place between 1869 and 1896. The Gilded Age was a time in American history when rapid economic growth generated vast wealth‚ new products as well as new technologies‚ and improved middle-class quality of life. The specific topic of this book is the architecture that was produced during the Gilded Age‚ particularly Central Park‚ which is located
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Eco 101-301 April 24‚2014 Economic problems that free competitive markets solve Everyone always seems to be searching for happiness‚ and a free market seems to be something that could bring happiness to a community. “Economics starts with one very important assumption: Individuals act to make themselves as well off as possible. To use the jargon of the profession‚ individuals seek to maximize their own utility‚ which is a similar concept to happiness‚ only broader (Wheelan 6). In a free
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University of Westminster BEQM601 Economic Theory and Policy Solution guide for problem set 3A Problem 1 (a) Because Holly spends 40% of her income for good 1 no matter what happens to her income or to the prices‚ her optimal expenditure share is fixed. So for Holly [pic]. For Holly‚ the optimal demands are therefore: [pic]. For Holly‚ optimal demand for good 1 depends on the income and the price of good 1‚ but does not depend on the price of good 2. Optimal demand for good 2 depends
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an improvement. Each person would have a more even slice of the economic pie‚ though the pie would consist of more health care and less of other goods. (b) When workers are laid off‚ equity considerations argue for the unemployment benefits system to provide them with some income until they can find new jobs. After all‚ no one plans to be laid off‚ so unemployment benefits are a form of insurance. But there’s an efficiency problem: why work if you can get income for doing nothing? The economy
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