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What is the difference between an essential and adequate condition for growth?
Essential and adequate conditions are helpful analytical and evaluative elements. As like example of:
• When net investments always means an enhance in productive capacity therefore growth then net investments a essential and adequate condition for growth
• When growth leads to an increase into GDP but considerable externalities, depletion of non-renewable resources and worsening income distribution in that case growth does not all the time lead to development. Growth is essential (has to occur) but inadequate (not enough) state for development.
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What are the similarities among the developing economies? Common characteristics of LDCs (Less Developed Countries) include: • Low living standards (that is low real income
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interaction between the two market force, demand and supply
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The prevention of main swings in economic activity can be handled most simply by the household sector. Explain why?
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