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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
What are Harrod-Domar restrictions? Harrod-Domar restrictions: • Non economic social, cultural, political and institutional circumstances are unimportant into growth pro
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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
Explain about the term Traditional Economy. Traditional economy: It is where decisions regarding what, how and for whom to produce are based onto tradition and custom. A
Assume that there are two types of consumers (in equal numbers). They have the following two inverse demand functions (coming from zero-income effect demand functions): Type A : p
A sample of 60 mutual funds was taken and the mean return in the sample was 13% with a standard deviation of 6.9%. The return on a particular index of stocks (against which the mut
What is the rational for the optimal use of a variable input?
How do economists group countries at various stages of development? There are three major forms of classifications: • IMF: Developing and industrial, transitional economi
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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