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What is the difference between economic growth and economic development? Growth is only individual dimension of development. Economic development is a complicated multi-dimensio
What is the difference between 'quantity supplied' and 'supply'? There is a distinction among supply and quantity supplied. Supply explains the behavior of sellers at every pr
Assume that the demand for running shoes is highly inelastic and the supply curve for running shoes is highly elastic. Suppose that the tastes of the exercising public shift away f
Some scholarly papers have shown that growth from trade in developing nations can make the country worse. Can this happen? If so, describe the conditions required for this situatio
why is international trade important south africa
Explain the meaning of a production possibilities curve
1. An unemployed individual decides to spend the day fishing. The opportunity cost of fishing is equal to A) The cost of bait and any other monetary expenses. B) Zero, becaus
Determine the Long-term direct investment flows Long-term direct investment flows are when investors buy physical assets like land or capital equipment in another nation. This
Suppose a major brokerage firm advised its clients to buy cigarette stocks under the assumption that, if consumer incomes rise by 50% as expected over the next decade, cigarette sa
why is international trade important for South Africa?
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