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What is absolute poverty and relative poverty? Absolute poverty: It is an income level below that essential to meet fundamental requirements. The UN measure of absolute
New trade theory
What is import substitution? Import substitution: It is a government industrialisation policy for development by replacing imports along with domestic production. St
Discuss (1) the key characteristics of the Chinese economy during the Mao era, (2) the socio-economic shortcomings that China experienced between 1949 and 1976 and (3) t
How does economic system influence the development process? The development experience of free market or capitalist and command as socialist/communist countries is extremely d
The average amount of debt families have is 2.5 times their annual income with a standard deviation 0.75 times their annual income. How much debt does a family have to have (relati
what microevrionmental factors have affected Sony''s performance since 2000
QUESTION (a) (i) Define the velocity of circulation of money. (ii) By comparing the Fischer's Quantity Theory of money and Keyne's Liquidity Preference Framework, explain cl
meaning of deductive and inductive method.
What are the Economies at Different Stages of Development? Economies at Different Stages of Development: • LDCs (Less Developed Countries) share common features but all one
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