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Low levels of productivity:
In addition to low standards of living, developing countries are characterized by relatively low levels of labour productivity. Throughout the developing world, levels of labour productivity (output per worker) are extremely low compared with those in developed countries. In crop production, rural small-scale farmers form the majority of the producers. Their productivity level is low due to the use of rudimentary tools (such as hoes, cutlasses and sticks) and simple and outmoded technology.
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conditions of pareto optimality
The raspberry growing industry is a perfectly competitive industry. The firms in the industry have a U-shaped LAC, minimum average cost is $8 and the minimum efficient scale is 4 u
Unemployment Rate A measure of labor force utilization the unemployment rate is equal to the number of people which is unemployed as a percentage of the total labor force.
KEYNES' THEORY AND EXPECTATIONS : Expectations played a major role in Keynes' theory of the determination of aggregate output and employment in market economies in the short run
I need help on MCQs on international trade and imperfect competetion
Income and Substitution Effects: Normal Good * The Special Case--The Giffen Good - The income effect may be large enough theoretically to cause the demand c
2ALBr3+3K2so4--->6KBr+1Al2(so4)3
Wage Differentials: Market structure alone does not account for all of the differences in wages and employment. Market wage differentials arise from various other sources, includin
U+v, UV, u/v
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