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Most studies of firms’ long run costs have found that average costs decline as firms produce increasingly larger output levels (economies of scale), such as for automobile firms. H
What are the characteristics of growth in developed countries? Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below: • Gross
What is the function of multinational companies into the promotion of development? A multinational or transnational (TNCs) company operates within two or more countries across
What is dependency theory? Dependency Theory: Dependency theory uses economic and political theory to describe how the procedure of international trade and domestic deve
QUESTION (a) Explain the law of demand and the factors affecting demand. (b) Explain and illustrate how demand of a commodity will change if there is a tax on that product.
The end of fixed exchange rates
Define the effectiveness of World Bank in promotion of development? The World Bank has a clear set of goals: to assist countries meet the UN Millennium Development Goals. A ma
solution
Applying economic concepts to situations at work. This writing assignment is intended to give you a chance to apply concepts to real economic situations. Think of these concept
What do you mean by standard of living? Standard of living (SoL): It is incomer per capita (head) and it is determined by national income (GDP) divided through total pop
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