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What is absolute poverty and relative poverty? Absolute poverty: It is an income level below that essential to meet fundamental requirements. The UN measure of absolute
Equation (1) gives a hypothetical demand curve for hybrid vehicles in the United States during the year 2000, where Q is the quantity demanded and P is the price. Equation (2) giv
#question.define potential entry.
What are Harrod-Domar restrictions? Harrod-Domar restrictions: • Non economic social, cultural, political and institutional circumstances are unimportant into growth pro
Explain about the term underemployment and unemployment rate. Discouraged employees are non-working people who are able of working although are not actively in search of a job.
What is a developing economy? To say a country is developed or developing needs indicators. For illustration: • The World Bank classification utilises one economic indicator
What is the main danger in placing countries together in the same grouping? It is useful to classify countries by groupings for identification of common problems and policy pu
What do you mean by the term project milestone? How would you decide how many milestones to demonstrate on your project plan? Project milestone: A milestone is a point at
There are three firms in an economy: A, B, and C. Firm A buys $450 worth of goods from firm B and $260 worth of goods from firm C, and produces 260 units of output, which it sells
Illustrate liberalise or open up trade in market for promoting development? Liberalise or open up trade implies that: • Abandoning fixed exchange rates and elimination of re
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