(a) What is a customs union? (b) State three advantages and two disadvantages of a customs union.

The money payment made to owners of land and labour are

The system whereby goods are exchanged for goods is known as

every society strive to pursue all the following economic objectives except

The graph of the function X = a + bY is

which of the following best describes capital as a factor of production?

Productivity , per worker, is best measured by

In determining cost economics considers

The price elasticity of coefficient indicates