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Explain the state intervention approaches for promoting development.
State intervention can result within:
• Large bureaucracies staffed through friends and relatives of the ruling elite
• State rules and regulations which burden business along with paperwork and slow down decision-making. For example, registering a modern business can take a year; importing components requirements a government certificate and promotes a bribe for licence corruption.
• Price rules-regulation distorts prices resulting within a misallocation of resources
• State funding of unsuitable capital projects
• Crowding out private investment like the bulk of accessible domestic savings is assigned by the state
• No profit motive implies no risk taking resulting into minimal product development and innovation.
A transition economy is Moving from a planned to a mixed or free market economy.
Fiscal Policy The government's use of spending and taxation to affect the stage of macroeconomic moment. In theory, weak economic activity needs simulative fiscal policy, which
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What are the characteristics of the informal sector? The characteristics of the informal sector comprise: • working for yourself quite than an employer, • Small scale ent
The end of fixed exchange rates
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How can the population controlled? Governments can take some steps to controlled populations: • Enhance the education of women and their employment opportunities raises and
Ask quWhich one of the following is TRUE? a. Small changes in the annual growth rate amount to a measurable difference in the long-term growth trend of a country. b. For ev
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