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Are patterns of trade a problem?
Generalising Less Developed Countries have a comparative advantage into primary products and employment intensive manufacturing; Developed Countries have the edge into capital intensive, high value and high tech added manufacturing and services.
• Problem for Imports Less Developed Countries mostly import oil, intermediate goods, consumer goods and capital goods along with high PED and YED
• Problems for Exports LDCs mostly export primary products which have low PED and YED and price volatile. Account of Exports for a higher percent of Gross Domestic Product into LDCs than into DCs.
Can economies grow of less developed countries by developing its secondary sector? Economies grow of less developed countries by developing its secondary sector because manufac
Usage of Game Theory in Managerial decision
Describe the characteristics of Monopolistic Competition
What are economic systems? An economic system is the system of organisations utilized by a society to solve the economic difficulty of what how and for whom to make. There are
What do you believe are the consequences of a rating downgrade?
What is the Lewis Model? The Lewis Model argues economic growth needs structural change into the economy whereby surplus labour within traditional agricultural sector along wit
Your student union has decided to support a local charity by fund-raising on a Rag Day to be held in the town. Key events include a fancy dress relay race with teams sponsored by l
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
How does social capital influence development? Problem: Low social capital leads to potential conflicts and high transaction costs which hinder growth. Several LDCs (Less Deve
What are the disadvantages of informal economy? Disadvantages of the informal sector are as illustrated below: • don’t pay direct taxes; • Can produce important pollutio
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