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What are economic sectors?
For the functions of analysis the production of goods and services can be classified in four groupings as given below:
a. Primary sector
b. Secondary sector
c. Tertiary sector
d. Quaternary sector
What are the difficulties of Developing Economies? Problems of Developing Economies: • Internal and external difficulties limit LDCs opportunity for development. • Les
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In your own words, describe the meaning of average cost. You normally buy a crate of wine for $75. One crate has 6 bottles of wine. After a month, the store clerk informs you that
QUESTION Evaluate the roles and functions of the Bank of Mauritius in ensuring monetary stability in the economy. Explain Economic growth and its potential benefits to th
You can buy as many drinks as you want at $1 each. You can also buy as many chocolate bars as you want at $2 each. You have $5 to spend. You must buy whole bars and drinks, that is
Explain how getting right price affected the market for promoting development. Getting prices right implies: • Abolishing price controls as well as subsides on fundamentals.
What is mean by stabilization policy? Taming the Business Cycle: To decrease the severity of recessions policy efforts undertaken are termed as stabilization policy. a
Explain about the long-run economic growth. Long-Run Economic Growth: Secular or long-run growth is the continued upward trend into aggregate output per person over many
What are Newly Industrialised Countries (NICs)? Newly Industrialised Countries: Recently Industrialised Countries (NICs) are LDCs which have undergone recent, quick indus
The prevention of main swings in economic activity can be handled most simply by the household sector. Explain why?
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