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What are Less Developed Countries (LDCs)? Less Developed Countries: Developing countries are frequently considered to as less developed countries. The World Bank categor
How is effort monitored onto a project? It is significant that the effort to be spent onto activities is reassessed on a regular basis – why is it so very important? Effort is
In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
how economics useful for businesses
Consider the economy (above) again where the following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4) for the prices (p 1 , p 2 , p 3 )=(1, 1, 1).
The government spending on given goods and several services including public. This is government spending on state-provided goods and services including public and merit goods. Dec
QUESTION (a) State whether the following statements are TRUE or FALSE. Clearly explain your answer. (i)The Keynes liquidity Preference theory stipulates that money demand is
What is import substitution? Import substitution: It is a government industrialisation policy for development by replacing imports along with domestic production. St
opportunity cost and decision making
Is low savings a problem? Countries along with low savings are caught into the vicious circle of poverty: there low savings, implies low investment low productivity therefore
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