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What is suitable technology? Technology is suitable when this employs methods which make the best use of accessible resources that is labour-intensive, straightforward techniqu
Capital gains and losses are regarded as wind falls. Fluctuation in the stock market prices in one of the most common sources of the wind falls. In a progressive society accordin
What policies can less developed countries follow to resolve their debt problem? Highly indebted countries can resolve by less developed countries: Seek help by internat
Mercantilism was the economic philosophy underlying English colonial policy. The object of mercantilism was to enhance the wealth of the Mother County (Great Britain) in gold & sil
What are the import substitution policies? Import substitution policies are as follows: Need trade restrictions for example, tariffs and quotas to defend infant industr
What are the assumptions of unbalanced growth? Development cannot be initiated through one industry. Government recognize strategically significant areas to planned economy or
describe production function for computers
Problem 1: "African Caribbean and Pacific (ACP) countries no longer have preferential access to the European market for their exports, except under provisions of „Special and D
What is dependency theory? Dependency Theory: Dependency theory uses economic and political theory to describe how the procedure of international trade and domestic deve
QUESTION No point is better accepted than the fact that the monopoly price is higher and the output smaller than what is socially ideal. The public is the victim. (a) Distin
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