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What is a bowed out shape? Why does a production possibilities frontier with increasing opportunity costa have a bowed-out shape?
a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
Explain the implications international capital flows problem. Implications: • FDI can assist physical capital accumulation and result within growth - usually beneficial b
What are Rostowís assumptions? Assumptions of Rostowís: • Economic development procedure is universal which is all countries whether within Africa or Asia go by the same se
Explain the discounting principle. Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next f
Describe situations wherein an IS project may need or wish to use subcontractors. Purposes for using subcontractors include: a. Lack of resources or skills: The organisation
Are patterns of trade a problem? Generalising Less Developed Countries have a comparative advantage into primary products and employment intensive manufacturing; Developed Cou
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What is the Monterrey Consensus? The World Bank estimates aid should increase by $50bn to resource the main aim of the Millennium Development Goals: containing the number of p
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