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Explain the importance of well-established property rights in the method of development.
Definition of property rights should not begin and end with owning land and buildings but have a much wider scope. Property rights encompass also the use of land/buildings in accordance with contractual rents - and also any resulting output resulting from economic activity. Property rights enable households and entrepreneurs to borrow against both existing ownership deeds (to land or capital) and also future gains like output and profits. Lack of property rights serve to keep poorer households powerless and also act as a disincentive to improve use of land and capital.
Q. Definition of labour force? Labour Force:Total population of working-age people who are willing and able to work and who thus have ‘entered' labour market. Labour force incl
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Various studies have concluded that the demand for movie cinema attendance is responsive to advertising. A study of one company, with movie cinemas in three neighbouring towns, sh
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Problem 1: (a) Explain the meaning of poverty. Briefly explain how poverty is measured? (b) Clearly explain the relationship between Poverty, Inequality and Economic Growt
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