A. State three characteristics of perfect competition

Bi. With the aid of diagram, explain the equilibrium positions of a perfectly competitve firm in the: Short run
Bii. With the aid of diagram, explain the equilibrium positions of a perfectly competitve firm in the: Long run

 

Ai. Explain how the Central Bank controls money supply through the use of:
Open market operations
Aii. Explain how the Central Bank controls money supply through the use of:
bank rate

B. Outline four functions performed by the Central Bank of your country

A. Distinguish between domestic trade and external trade.

B. Distinguish between terms of trade and balance of trade

C.Outline four causes of balance of payments deficit in a country