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How is the wrong conclusion result in necessary condition not in the sufficient condition?
This is often heard that the market institution must not be used based onto the fact that several countries are market economies but remain poor. The cause this logic results within a wrong conclusion is which they did not realize the adoption of a market mechanism is just an essential condition for a country to be rich, although is not a sufficient condition. Becoming a moneyed country also based on other factors as like political system, culture and social infrastructures. Additionally, no illustration of a country can be established so far that this is rich in the long run, which is not a market economy.
The positive statement state fact whereas normative statement provides opinions or value judgments. Differentiating these two statements can void many needless debates.
Example: The Value of Clean Air Air is free in sense that we do not pay to breathe it. Question: Are benefits of cleaning up air worth the costs? People pay extra to buy
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LINKAGES OF BUREAUCRACY WITH THE KNOWLEDGE CENTRES: The Government employees must make use of knowledge generated in higher seats of learning for implementing economic policie
Capital Account: The capital account deals with long and short-term capital movement.These capital movements are referred to as autonomous because they take place for business o
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Because of your reputation as an expert in economic analysis, you have been hired as vice president of a business consulting firm named Economists R Us. This firm provides consult
what is International Cartels and Commodity Agreements? Describe briefly International Cartels and Commodity Agreements, what are Commodity agreements?
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