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In: Economics

1. An entrepreneur starts a small firm with one machine, and a small factory space and...

1. An entrepreneur starts a small firm with one machine, and a small factory space and employs one person initially. With the aid of appropriate diagrams/table and theory, explain the process of production as he increases his output. Indicate clearly what law governs this process of production, the variable and the fixed factors used by this entrepreneur.
2. Discuss the effect of covid-19 on the level of unemployment in Ghana.
3. In March 2020 Ghana recorded its first case of Covid-19 and which subsequently led to a lock down in Kumasi and Accra. Using appropriate diagrams explain the effect of the covid-19 pandemic on equilibrium price and quantity of sanitizers on the market:
a. Before the lock down
b. After the lock down.

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Rahul Sunny answered 7 months ago
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