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Is structural change a problem?
Economies are dynamic and adapt to meet evolving consumer wants needs. This means resources are moved from use to use in response to, say, changes in relative price.
The procedure of development needs radical structural change. Classically economies develop through moving resources through agricultural and mining to manufacturing and ultimately in the tertiary services sector.
Structural change becomes a problem while the burden of adjustment falls disproportionately onto minorities and regions for examples those along with outdated skills which are geographically or occupationally immobile in a specified area of the country. The resultant raised income inequality and social keeping out threatens social cohesion as into Russia.
What are Rostowís policy implications? • LDCs (Less Developed Countries) require aid. The development procedure can stall at the Take Off stage for be short of savings. 15
what are the steps in location decision.
state the demand theory.
QUESTION (a) Explain the Law of demand and the factors affecting demand for a product or service. (b) Explain and illustrate diagrammatically how the market demand for a pro
(a) Give basic criteria for selecting an outsourcing supplier. (b) What do you understand by Request for Information and Request for Proposal (RFP)? (c) List down question
What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the
what is the ethics of command economics?
What are the major area of decision making ? How does economic theory contribute to managerial decision ?
QUESTION (a) With reference to price elasticity of demand, discuss and illustrate the effects on government revenue of increasing value added tax on goods and services. (b)
What are the limits of national income (NY) statistics in measuring development within a country? National income statistics simply show changes in GDP (Gross Domestic Product)
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