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What are the limits of development theories?
Theories are generalisations:
• When LDCs share similarities, each country is unique economic, cultural, social and historical experience implies the implications of a specified theory vary widely through country to country.
• There is no one individually agreed model of development. Each theory, as Rostow, provides an insight in one or two dimensions of the complicated process of development. For example, Rostow assists us to think regarding the stages of development LDCs might take and Harrod Domar model describes the significance of adequate savings in such process.
Is industrialisation significant in the process of development? Industrialisation is considered as a major driver of LDC development. Industrialisation arises while a predomin
Disadvantages of globalisation
QUESTION a) State and explain the assumptions of a perfectly competitive market. b) Analyse the effects on the firm's profit and output of an increase in demand in the short
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Tri-City Industries is considering two possible capital projects. Project A requires an initial investment of $240,000 and provides cash flows before tax of $120,000 in year one, $
What are the disadvantages of informal economy? Disadvantages of the informal sector are as illustrated below: • don’t pay direct taxes; • Can produce important pollutio
Keynesian economics policy could be distinguished from the classical economics as the main through of the classical theory is that supply creates its own demand which is described
What are the advantages of informal economy? Advantages of the informal sector: • Employment, opportunities and income. • Offers cheap inputs for the formal sector •
Problem 1: (i) Assuming a Cournot duopoly where the market demand is estimated as: P = 100 - Q The marginal cost is estimated to be constant at Rs. 10 for the two fir
How do institutions influence development? Institutions development influence: Institutions matter since they give opportunities for people and firms to participate into
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