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Why is the concept of scarcity relevant to both LDC s and MDC s?
All societies throughout time have wrestled with the basic economic conundrum of having needs that cannot be met. Suppose that wants are endless but that economic resources are scarce means that all economies will have to contract with the issue of scarcity, i.e. that all needs simply cannot be fulfilled and that choices will have to be made.
Materials Requirements Calculations - MRP System MRP is a computer-based 'engine' which carries out calculations in order to determine: What is needed, and When i
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Comparison with Our Needs: We can further test our performance by juxtaposing it with our requirements. Admittedly, it is very difficult to determine 'needed' rate of growth w
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Determine The Rule of Divergence in General Though even if attention is confined to non-communist-ruled economies there still has been huge divergence in relative output per w
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