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What is import substitution?
Import substitution:
It is a government industrialisation policy for development by replacing imports along with domestic production.
advantages of government grants
In a model where a continuum of individuals have preferences for consumption and leisure as follows w i = c i + ln(x i ) and individuals differ in their labour endowments e
Problem 1: (a) Define the concepts of production-oriented capitalist system and market-oriented capitalist systems. (b) With set examples, explain how these firms behave
QUESTION (a) What are the main types of unemployment? (b) Mauritius has been facing an alarming rate of unemployment during the last 5 years (i) What reasons could explai
how does the buying and selling of stock fit the model for perfect competition?
Is foreign debt a problem? Foreign debt is the whole amount owed overseas through a country at an exact moment in time. Debt is a problem since • High debt imply high inter
Why might the point at which the long-run average cost curve levels out change over long periods of time? include a diagram.
how managerial economics is applied in a firm?
An agent has a utility function over goods 1 and 2 of the form U = x c 1 x d 2 where c is your 1- digit number and d is your minimum number. The agent's income is equal to you
Is low savings a problem? Countries along with low savings are caught into the vicious circle of poverty: there low savings, implies low investment low productivity therefore
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