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What are the limits of development theories? Theories are generalisations: • When LDCs share similarities, each country is unique economic, cultural, social and historical
Ask quWhich one of the following is TRUE? a. Small changes in the annual growth rate amount to a measurable difference in the long-term growth trend of a country. b. For ev
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QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) Distinguish between centrally planned, laissez-faire and mixed economic systems rega
What are social cohesion, social capital and social inclusion? Development economics importance the role of social capital, cohesion and inclusion into the process of developm
What are the limitations of comparative advantage? Limitations of comparative advantage: International trade needs wide specialisation. This can have drawbacks as given b
Suppose you have ten individuals with values ( $1, $2, $3, $4, $5, $6, $7, $8, $9, $10) . Your marginal cost of production is $2.50. What is the profit maximizing price?
Explain the ways in which businesses may try to influence government policy in a way that might benefit them. In the light of government regulation, businesses may become inv
What are the characteristics of the informal sector? The characteristics of the informal sector comprise: • working for yourself quite than an employer, • Small scale ent
What are the national figures? National income figures: • Do not measure social, non-economic, quality of life indicators as like life expectancy that access to educatio
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