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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.
Elasticity of Market Supply • Perfectly inelastic short run supply arises when industry's plant and equipment are so fully utilized that new plants should be built to ac
What have been some justifications given for the historical exclusion of household production from the national accounts? Some reasons have included: a. households are not p
Perfect competition: The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situation
illustrate and explain the changing demand for big mac using the indifference curve and budget line
Due Diligence The investigative procedure an investor should conduct into the operations and business strategy assumptions of an organization soliciting investors.
what is walrasion equilbrium
Current Account: The Current Account can be broken down into two parts, viz., one, balance of trade, and, two, balance on invisibles. The Balance of Trade (BOT) deals only wit
International trade: International trade refers to the exchange of goods and services between countries. Goods sold to other countries are referred to as exports and goods bou
What is an index number?compile a chart of the types of consumer price index numbers showing-the agency who prepares it,index formula,target group,groups of items covered and the w
periodic table
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