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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.
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded.
economists would predict that if salaries increased for engginieers and decreasded for mba braduates that fewer people would go to graduate school in business and more would go in
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