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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
First-in First-out Method (FIFO) A technique of inventory valuation based on the concept that merchandise is sold in the order of its acknowledgment. In other words, if an elec
Explain how getting right price affected the market for promoting development. Getting prices right implies: • Abolishing price controls as well as subsides on fundamentals.
Assess the current environmental scan factors that are relevant to the decision making process. Determine the factors that will have the greatest impact on plant operations and man
opportunity cost and decision making
In June, Leslie wins a cash prize of $2,000. She plans to use this money to pay her tuition bill in September. Leslie puts this money in a savings a savings account because her mai
What is the function of Non-Government Organisations, within the promotion of development? Advocates argue NGOs (Non-Government Organisations): • Hold DCs accountable for e
What happens during a business cycle of economy, and what can be done about it? Business cycle of economy: a. The consequences of recessions and expansions onto unemploymen
Stakeholders have various interests or ‘stakes’ in a project. How can you find out where to put your management effort? Preferably, all stakeholders will have closely same crit
Why is not Aid improving development? Aid not improves development because: • Aid is spent on current consumption • It is spent on unsuitable capital as opposed to suitab
What are the predictions of Lewis? For Lewis, Harrod Domar is right to emphasise the task of savings and investment although structural change and a new industrial sector are
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