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QUESTION 1 i) Distinguish between the different kinds of concentration measures ii) Briefly describe the axioms of Hannah and Kay (1977) iii) Derive and explain the Dorfm
Is there an optimum population size for a country? Optimum (best) population arises while productivity that is output per person is highest. • An under-populated country ca
What is import substitution? Import substitution: It is a government industrialisation policy for development by replacing imports along with domestic production. St
relationship between tfc , tvc , tc
Discuss how income flows in governed economy
with a water park going in town. What kind of externality is this?
summary
Define institutions in the context of business strategy, and explain the role of institutions when considering entering a foreign market. Explain the role of culture in how these i
What are the requirements of national figure to adjusting? National figures first require adjusting: • For population: Dividing Gross Domestic Product (GDP) by total populat
Can comparative benefit change over time? Comparative benefit is a dynamic concept. A country can obtain or lose comparative advantage overtime when there is a change within r
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