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Economics, Accounting & Business: Post your doubts here!

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Free trade area: No internal tariffs, Different external tariffs, No mobility of labour allowed within the union
Custom Union: No internal tariffs, Common external tariffs, No mobility of labour allowed
Economic Union: No internal tariffs, Common external tariffs, Common currency, mobility of labour allowed within union
just what i was loooking for ...thank you
 
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why dont you read properly?
Hey can you please let me know what comes in a revaluation account I always get confused with it, and which assets are debited and which are credited

Is this correct tho?

Decreased assets : debit revaluation acc
Increased assets ; credit revaluation acc
Decreased liabilities : credit revaluation acc
Increased liabilities : debit revaluation acc

Please let me know
 
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M/J 2006. Answer: B

Screen Shot 2014-05-14 at 7.09.31 AM.png

Could anyone help me with this question please? Can't seem to find the answer even after applying the formula T_T
I use -> Elasticity of demand = (change in quantity/change in price) * (initial price/initial quantity)

Thanks!
 
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M/J 2006. Answer: B

View attachment 42445

Could anyone help me with this question please? Can't seem to find the answer even after applying the formula T_T
I use -> Elasticity of demand = (change in quantity/change in price) * (initial price/initial quantity)

Thanks!
PED:1
Simply apply ratios. The relationship between price and demand is inversely propotional so:
$ 12 : 4000
x : 20000

x = (12 x 4000)/20,000
x = 2.4

Credits: TheZodiac
 
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Q11: When Y increases in supply, it increases in price as well (direct relationship of supply). Thus, when Y increases in price, X, as the complement, is also able to rise its price as well. Again, due to direct relationship of supply, an increase in X's price will result in increase in supply as well.

Answer: D

for 25 its A as when inflation rises....domestic price rises...this increases profits of firms.....and when inflation is present this makes the export prices expensive a nd import prices more cheap thus leading to more imports and less exports...meaning bop will worsen.....i think this theory is right haha...
 
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