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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.
Micro economics is the study of individual unit of an economy
Shares: Financial assets that represent ownership of a small proportion of total equity (or net wealth) of a corporation. Shares can be sold and bought on a stock market. Slaver
Problem 1: (a) Critically examine the differences between the Neo-classical growth models and the endogenous growth theory. (b) Show the relevance of such models in explain
Suppose that a firm’s production function is given by Q=30L-3L2, where L is labor input and Q is the output. a) Derive and draw the firm’s demand for labor while the firm’s produ
Problem 1: i) To what extent can a country actually rely on the principle of Comparative advantage before engaging in international trade? ii) Explain the different types
In relation to banking, Basel II, the Capital Requirements Directive (CRD) was implemented in January 2008. The CRD requires stricter capital treatment of a bank's risk transfer op
effect of tariffs on national income and employment
what is comparative advantage
Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinite
Determinants of Short Run Cost - The relationship among the production function and cost can be exemplified by either increasing returns and cost or decreasing returns and cost
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