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Economic Reforms and Reduction of Regional Disparities: Another important objective of development is to reduce regional disparities. Government has been helping the backward
Implicit in these analyses is the fact that without government we could have neither shortage nor surplus. In large calculates, the suspicion of government is due to it has the po
The Long-Run Supply of Housing * Scenario 1: Owner-occupied housing - Suburban or rural areas - National market for inputs * Questions - Is this an increasing or co
Elasticities of supply and demand Other Demand Elasticities – Income elasticity of demand calculates the percentage change in quantity demanded resulting fro
What is pigovian welfare economics
Two firms, A and B, are planning to bid for a contract of Motorway extension in Mauritius. Suppose: (1) firm B is a newly established company and has already incurred a st
Production with Two Variable Inputs * There is relationship between productivity and production. * Long run production K& L are variable. * Isoquants analyze and compa
Why is investment so important in an economy? Define investment as an enhance in capital stock and link this to broad macro issues; future output, enhance in living standards, ta
What is meant by dumping? Dumping is when a producing country dumps goods on foreign markets at a price lower than either the price on the home market or below the cost (HL: ma
Why is the concept of scarcity relevant to both LDC s and MDC s? All societies throughout time have wrestled with the basic economic conundrum of having needs that cannot be me
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