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What is the main danger in placing countries together in the same grouping?
It is useful to classify countries by groupings for identification of common problems and policy purposes. The danger lies in stereotyping and making generalisation that are an over simplification of complex reality.
• All countries are different while countries may share similar characteristics each is unique in terms of: resource endowment; geography, climate, culture and colonial experience
• Within a country regions are different and can be at different levels of development.
features of monopolistic competition and oligopoly
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I need answers for exam 3 & 4.
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