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What is good governance?
Governance is fundamentally another word for government and is a necessary precondition for development. It is how governments employ their authority to pass laws and exercise force for the usual good. It is concerned along with how:
• Rulers are choose, monitored and replaced for example through free and fair elections or like an outcome of a military coup
• The authorities efficiently control resources and implement policies as like are decision taken for vested interests or the common good
• Disputes are settled for example by the impartial rule of law or through force.
Markets are often classified in terms of the nature of competition and collaboration they facilitate. In economic analysis, if the elements of competitions are “pure” then the mark
QUESTION (a) Explain what factors might determine the level of investment in an economy. (b) ‘If investment increases it will cause an increase in income. If income increase
What is culture and human capital? Human capital is the knowledge, experience and skills of employees and can be raised by investing into education, job training and health
QUESTION Explain the relationship between scarcity, choice and opportunity cost. "In a capitalistic system, Consumer Sovereignty is the key". Explain and discuss this sta
How does colonial background influence the development process? Colonial experience influences: • Language for example the official language of US is English. • Legal and
Why does a production possibilities frontier with increasing opportunity costs have a bowed-out shape?
(i) Explain the term capital accumulation. (ii) Explain the different views on economic development. (iii) In the golden age of globalization countries, especially develop
How is Harrod-Domar model used in planning? The Harrod-Domar model is helpful to government for setting target rates for saving required to deliver a specified rate of economi
The factors that affect the volume of production in economics
QUESTION (a) Senior executives of the public sector are now faced with the challenging task of evaluating ‘e-Government' projects. Discuss the main character features involved
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