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Problem :
(a) Using examples of Least Developed Countries, explain the:
(i) causes of market failures; and
(ii) consequences of market failures
(b) Describe the common set of problems that developing countries usually face.
(c) In your opinion, which of the problems described in part (b), are more significant to Mauritius? Justify your answer.
(d) In the era of globalization countries are called-upon to include the improvement of human resources in their domestic development agenda. Critically assess whether education is a source of economic growth and development.
The income elasticity of demand calculates the responsiveness of the quantity demanded of a commodity to changes in consumers' incomes. This is typically calculated by replacing t
Explain the difference between a stock and a flow. A stock is something whose quantity is calculated at a point in time, whereas a flow measures the quantity of something ove
Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1
factor afecting the demand for durable product
friedman and savage hypothesis
In markets, the invisible hand allocates resources efficiently a. in all cases b. when there are positive externalities, but not when there are negative externalities c. when there
Functions of the Central Bank: Currency issue and distribution: The Central Bank is the only institution empowered by law to issue currency notes and coins that are used as a
Types of budget: Surplus Budget: A surplus budget occurs when the expected government revenue is planned to exceed the proposed government expenditure. It can be achieved by
What is the resultant pressure if 2.7 mol of ideal gas at 273 K and 2.51 atm in a closed container of constant volume is heated to 399 K
Q. What do you meant by Real GDP? Real GDP:Value of total gross domestic product (which is, all the services and goods produced for money in the economy) adjusted for effects o
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