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Question 1: ‘The WTO was set up with the intention of regulating international trade between countries'. How successful has the WTO been in attaining its objectives? Questi
New trade theory
business environment
Why not cancel all third world debt? Two arguments are advanced in opposition to debt cancellation. • Developed countries finance the World Bank which can use its funds to
How does colonial background influence the development process? Colonial experience influences: • Language for example the official language of US is English. • Legal and
What is Economic development theory? Economic development theories and models seek to describe and predict how the: • Economies may develop or not over time in excess •
with a water park going in town. What kind of externality is this?
What is a bowed out shape? Why does a production possibilities frontier with increasing opportunity costa have a bowed-out shape?
What is import substitution? Import substitution: It is a government industrialisation policy for development by replacing imports along with domestic production. St
What is the Third World? Third World: Developing countries are sometimes termed as collectively like the Third World. Such term can cause offence within developing nation
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