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What are the limits of development theories? Theories are generalisations: • When LDCs share similarities, each country is unique economic, cultural, social and historical
Explain the notion of the hidden momentum of population growth. Why is this an important concept for projecting future population trends in different developing nations?
Is migration a problem? Huge scale rural-to-urban migration places a strain onto city economic systems. As like some examples of: • There is inadequate demand for labour to
How can the size of shadow economy estimated? The size of the shadow economy is estimated when activity is undeclared as the amount of informal activity can be calculated: a
Define the planned or command economy system. Planned or command economy: Resources are owned through the state. The state assigns resources, and sets production goals a
What is the capital-output ratio? Capital-output ratio: This ratio (k) is the amount of capital required to produce £1 of Gross Domestic Product generated, every year.
what factors affect the volume of production in an economy
What is the difference between an essential and adequate condition for growth? Essential and adequate conditions are helpful analytical and evaluative elements. As like exampl
Find quantity supplied and quantity demanded: Suppose there are 300 used cars, with 3 quality levels: bad, medium, and good. A seller knows the quality of his car but a buyer
Assignment on discounting principle
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