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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
Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic cooperation and development) countries, Potter and Diamond (1999) pointed out
COST benefit analysis Costs that are applicable in the project and the benefits that are associated with it are as follows: Risk occurs at different levels. It takes pl
I don''t understand PPC at all
Explain how oligopolies can work both for and against consumers. Oligopolies market power can of course work against consumers - as price-setting and any form of collusion will
Determinants of Private Demand - Gender Hypothetically, let us consider a family with two children, a boy and a girl. Let it be that both of them qualify in an entrance exami
Explain why both the PES and PED tend to be inelastic in the short run for primary goods. PED deals with (primarily) the ability and propensity of consumers to switch to other
Regardless of the market structure, oligopolist and the monopolist maximize their TR when MR=0. Do you agree?
Briefly explain the main macroeconomic objectives of governments. Definition of macroeconomic issues Growth a) Enhance in national income per unit of time, a
Which of the following industries do you think are likely to exhibit large economies of scale? Explain why in each case. a. House building b. Electricity generation c. Market ga
Conventions as a Basis for Forming Expectations : Since there is little objective basis for probability distributions about future yields, decision-makers have to act on the ba
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