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What is Balanced Growth theory? Balanced Growth theory: This theory argues that market is not capable to deliver growth. State approaches to development are needed since
define scarcity and opportunity cost? what role these two concepts play in the making of decision making?
describe production function for computers
What are Rostowís assumptions? Assumptions of Rostowís: • Economic development procedure is universal which is all countries whether within Africa or Asia go by the same se
the markert is said to be an invisible hand in the economic system , how
How can trade Liberalisation mean eliminating barriers? Trade liberalisation is the removal of trade restrictions for example tariffs, quotas and non-trade barriers is unsynch
QUESTION 1 (a) Explain the meaning of asymmetric information, adverse selection and moral hazard and their implications on the role of commercial banks in the financial interme
Is industrialisation significant in the process of development? Industrialisation is considered as a major driver of LDC development. Industrialisation arises while a predomin
Is structural change a problem? Economies are dynamic and adapt to meet evolving consumer wants needs. This means resources are moved from use to use in response to, say, chan
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
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