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Are patterns of trade a problem?
Generalising Less Developed Countries have a comparative advantage into primary products and employment intensive manufacturing; Developed Countries have the edge into capital intensive, high value and high tech added manufacturing and services.
• Problem for Imports Less Developed Countries mostly import oil, intermediate goods, consumer goods and capital goods along with high PED and YED
• Problems for Exports LDCs mostly export primary products which have low PED and YED and price volatile. Account of Exports for a higher percent of Gross Domestic Product into LDCs than into DCs.
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
explain major decisions in successful implementation of sales promotion programs
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For the special case when firms are price takers, what is the relation between total revenue, average revenue, marginal revenue and price?
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