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The main features of outward-oriented and inward-oriented development strategies.
Inward- oriented as focus on reducing domestic reliance on imports by executing high barriers to trade and channelling government resources towards specified domestic industries.
Outline import-substitution; The rather dismal results of import-substitution contain a strong political rather than economic philosophy , focus on domestic champions which reduced competitiveness, failure to identify winning industries, squandered government resources on goods for which there was no competitive benefit, forward linkage effects and a lack of capital/ skills/ knowledge transferred from abroad
Steel and aluminum production Steel Canada 500, France 1200 Aluminum Canada 1500, France 800 The maximum amount of steel or aluminum that Canada and France can produce if they full
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Balance of Payments and Developing Economies: It is well-known in development economics that UDCs invariably start as debtor economies. In the process of development itself, t
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law of demand..
Perceived Value Pricing This refers to a pricing strategy that dictates that the price of a given item will be set based on the customer's perception of the value of that item
What is the difference between 'Capital' and 'Capital value'? "The total amount of money or other resources owned or used to obtain future income or benefits." On the other h
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