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Dependence on agricultural production:
Dependence on agricultural production and primary product for exports. The external sector comprises Imports and Exports, Ghana shows dependence on a single crop, Cocoa, for export. In Ghana, the major exports including cocoa account for about 60 per cent of the total foreign exchange earnings of the country. Minerals in general earn on the average about 15 per cent of our total foreign exchange earnings. Normally, primary products in LDCs account for between 80-90% of export earnings but in the developed countries it is about 35 per cent. In Ghana, the primary sector accounts for on the average, about 80 per cent of our foreign exchange earnings implying that Ghana is more of a developing country than a developed country.
Change in consumer income: A change in consumer income may bring about a change in the quantity demanded of a good or service. However, the direction of change in quantity deman
Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.
discuss how economic theory explains the optimum pattern of consumption of an individual consumer
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1. Explain what are price ceilings and price floors and how they effect the market for a good or service. Also show through graphs, if they cause any inefficiencies in a perfectly
NEER Vs REER: In a situation where there are multiple trade partners, the effect of cross-currency movements are judged by nominal effective exchange rate (NEER) and real effe
There are various implications of the monopoly model; many of which lead to criticisms of monopoly on issues of both technical /allocative efficiency. The prices and output verifi
formula of range
What factors shift the Aggregate demand curve to right and what factors shift the AD curve to left? AD shifts to the right when any component of AD enhances autonomously; e.g
A city government regulates taxi fares. It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years. At one time vacant taxis wer
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