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Explain three major barriers to development experienced by developing countries.
Well, the scope of possible answers here is, em, wide, to say the least. The issue is not to simply list three barriers, but to show and explain how they impact on the development process. For example, the poverty cycle of low income → low savings → low investment → low income etc is a good example - as long as the answer shows clearly how these are linked.
Explain how the price system eliminates a shortage. A deficiency means that quantity demanded is greater as compared to quantity supplied. This will lead to upward pressure on pr
Why some country saving less and consumption more?
Disposable Personal Income The amount of cash remaining after taxes are removed that an individual has the opportunity to spend.
discuss and illustrates the following terms with diagrams1.inferior goods.2.normal goods,3.giffen goods
Solve equation P=200-Qs and Qs=4.5p +5
The most fundamental economic problem is scarcity.
Suppose an economy has four sectors, Agriculture (A), Energy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest
Carbon Tax: An environmental tax that is imposed on products that utilize carbon-based materials and thus contribute to greenhouse gas pollution (comprisinggas, oil, coal and other
Perfect competition: The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situation
find the highest premium find the actuarialy fair premium
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