For example, a price elasticity of alcohol demand of -0.5 means that a 1-percent increase in price would reduce alcohol consumption by 0.5 percent (or a 10-percent increase in price would reduce consumption by 5 percent).
The Local Currency. The Seychelles Rupee (Rs) is the official currency of the Seychelles. One Rupee = 100 cents. The currency is divided into both paper and coin form. Currency is minted in the following denominations.
Country: South Africa. South Africaâs richest black man, Patrice Motsepe has a fortune of about $2.9 billions. He started learning business lessons from his father who was a small time businessman in South Africa. He founded a mining company which is African Rainbow Minerals (ARM) and he is the chairman of it.