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Can economies grow of less developed countries by developing its secondary sector?
Economies grow of less developed countries by developing its secondary sector because manufacturing:
• Commonly has a higher value added than agricultural products and it may bring employ, exports and growth and higher incomes.
• Has higher income elasticity of demand therefore as world income grows demand for manufacturing rises by a big proportion. The opposed is true for agricultural products.
• Fewer prices is volatile as this is not as subject to unforeseen conditions (frost, disease) like agriculture.
as mention above, the physical demand for gold rises in india during late summer and the beginning of fall.what situation occurs at the end of the year?
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features of monopolistic competition and oligopoly
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