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Economic growth and Economic development:
Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income.A country is said to experience economic growth if overtime, its real output (real GDP) increases as well as its real per capita income.
Economic development is a sustainable increase in real GDP that implies increased real per capita income, better education and health as well as environmental protection, legal and institutional reforms and an efficient production and distribution system for goods and services.
Economic Ef ficiency The effort to making products and services in the least costly way without sacrificing excellence.
Calculate the price elasticity of demand or supply for the following function when P=8 p=6(I)p=40-0.5q
Define the term “cross elasticity of demand” (2 marks) Price of commodity X (SH) Demand for commodity X (Units) 12 80 16 100 20 120 24 140 28 160 d) The following data relate to a
Exit Strategy The exit strategy denotes that which investors in an organizations realize all or elements of their investment, regardless of the organizations success.
what is the law of diminishing marginal product? explanation with the help of proper schedule and diagram.
do you agree that according to econmy theory a business will always close if its total reveneu cover total costs
Rule of Thumb Method Sir Ashby had been requested in 1960 by the Government of Nigeria to submit a report on manpower development in Nigeria. In doing so, in the absence of re
could the village prepare 14 campsites and grow 350 pawpaws?explain your answer.
EXCEPTIONAL SUPPLY
Examine the role of foreign direct investment (FDI) for developing countries Explanation of foreign direct investment as the direct ownership of capital in another country by a
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