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Outline the possible negative effects of import-substitution policies.
Define and outline import-substitution; focus on reducing domestic reliance on imports by implementing high barriers to trade and channelling government resources towards specified domestic industries. The rather dismal results of import-substitution include 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.
When somebody wearing muddy shoes rides a public bus, he imposes a negative externality on other riders (passengers get some mud rubbed off on them, and the shoes look ugly). If a
Fiat money is not a new idea. Some European historians recognize the first use of fiat money in Europe resulting from gold and silver smiths issuing their customers receipts for g
Explain about the specification of economics environments. Specification of Economic Environments: The primary step for studying an economic issue is to identify the econom
the price elasticity for gizmos is known to be 1, if sellers of gizmos increase their
what is isoquant ?
Biochemistry is regarded a dull topic. Not many learners like to research it in school since it includes a thorough comprehension of issue and clinical changes in the framework, fr
WHAT IS PPC
#question.case study of bain limt price theory
Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
what are the sources of monopoly power
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