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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.
what are the uses of cross elasticity quantity in demand/
uses of time series in indian economy
An important aspect of municipal finance involves capital budgeting and resource allocation. In some cases, resource allocations involve expenditures that are not directly revenue
#i need more light about it..
value of marginal product
why is the concept of elasticity crucial to the study of economics?
similarities
If the MU of the 1st unit consumed = 75 utils, and the TU of consuming 2 units is 130 utils, what is the marginal utility of the second unit?
The functions of money include; (1) medium of exchange, (2) store of value, and (3) a calculate of worth. Due to money is acceptable as a form of payment for all commodities,
Why a high level of labor force growth is correlated A high level of labor force growth is correlated--even though less powerfully--with a low level of output per worker. The a
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