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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.
Is there an optimum population size for a country? Optimum (best) population arises while productivity that is output per person is highest. • An under-populated country ca
What are the characteristics of developed countries applied to Less Developed Countries? Some of Kuznets' characteristics of a DC (developed countries) can be applied to LDCs (
What is Monopoly and how does it affect the economic postively and negatively?
A Korean BBQ restaurant has four workers for washing jobs: Dane, June, Park, and Pola. Each workers eight hours a day and can produce two washing services: Washing rice bowls and w
What are the major problems in measuring national income? The major problems in measuring national income: a. Unreliable statistics data collection is costly and the figu
how the concept of elasticity used for decision making
Keynesian economics policy could be distinguished from the classical economics as the main through of the classical theory is that supply creates its own demand which is described
What are the similarities among the developing economies? Common characteristics of LDCs (Less Developed Countries) include: • Low living standards (that is low real income
is industrial ethics contradictory?
1. The student is required to research a business topic, drawing information from a number of sources, prepare and give a talk to a group, and answer questions. Simply presenting
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