Econ paper

Each question need to be done with 2 pages ,double-spaced and completed sentences. Examples can be quoted from internet. 

 

1)Describe in some detail. The difference in allocation of resource(4 hints questions)between capitalism;socialism and communism?Use any model to explain, Centralized vs decentralized allocations.

 

2)Describe the notions inverse vs positive relationship; scarcity;association as causation; fallacy of composition and 

rational self-interest.

 

3)Explain the notion of (PPC)production possibilities curve.Include shapes shifts and operational points.

 

4)Outline in detail : The notion of free exchange. Discuss the types of protectionism used around the world to reinforce restriction of free-trade and what they denote. Name and describe at least 5 organizations that promote these concepts.