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Danger of over-specialising
A country may feel that in its long-term interests it should not be too specialized.
A country may not wish to abandon production of certain key commodities even though the foreign product is more competitive, because it is then too dependent on imports of that good. In the future, its price or supplies may diminish. It is for this reason that countries wish to remain largely self-sufficient in food.
An exporting country may not wish to become overspecialized in a particular product. Such over specialization may make sense now, but in the future, demand may fall and the country will suffer disproportionally. It is for this reason that many developing countries choose not to rely solely on their comparative advantage; they wish to diversify into other goods as an: insurance policy".
OBJECTIVES OF CREDIT CONTROL The old objective of controlling credit creation by the commercial banks in the country was dictated by considerations of maintaining stability of
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In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
Describe the Forecasting method in managerial economics It is a technique or a method to predict many future aspects of a business or any other operation. For illustration, a r
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Explain the importance of managerial economics.
Explain Managerial economics according to Mote and Paul Haynes, Mote and Paul: "Managerial economics refers to those characteristics of economics and its tools of analysis mos
applicatiopn of qt in managerial decision making
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