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What are the assumptions of dependency theory?
The assumptions of dependency theory:
Dependency theory extends Marx is theory of surplus value to international relationships. For Marx, labour is the simply source of economic value. The capitalist pays his employees less than the value their labour has added to the good, maintenance the surplus into the form profit and interest.
This is equally true that DCs exploit LDCs (less developed countries) by extracting their surplus value. Each surplus value becomes the dissimilarity among the values of what an LDC produces and what this paid to produce that by a DC.
Free transnational and trade foreign direct investment distorts the whole economics and social structure of Less Developed Countries (LDCs) that become geared to meeting the requirements of DCs for example: export and orientated industries.
Disadvantages of globalisation
What are the characteristics of growth in developed countries? Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below: • Gross
Q.No2 Read the following situation Consider the following parlor game to be played between two players. Each player begins with three chips: One red, one white and one blue. Ea
QUESTION Case Study E -HR Strategy: An Electronic (E) Human Resource (HR) Strategy is attainable by small and medium sized business 1. Introduction This article is
What is the function of World Trade Organisation in the promotion of development? The World Trade Organization (WTO) is international association dealing along with the global
How does foreign debt management improve development? Borrowing is a policy to encourage growth like aid represents an injection of resources within the economy which enable
S M Construction has been awarded a contract to build a new manufacturing plant just outside Cardiff. The activity on arrow table below gives data on the activities involved in the
What is the Monterrey Consensus? The World Bank estimates aid should increase by $50bn to resource the main aim of the Millennium Development Goals: containing the number of p
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.
factors that affect the volume of production in economy
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