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define scarcity and opportunity cost? what role these two concepts play in the making of decision making?
What are economic systems? An economic system is the system of organisations utilized by a society to solve the economic difficulty of what how and for whom to make. There are
What is the current economic status of abaca farming?
Why is the growth rate and significant for development? The rate of economic development is the percentage increase within real GDP over twelve months. • The higher rate of
What is social inclusion? Social Inclusion: Social inclusion implies the whole of society enjoys the advantages of economic activity (as income) and have complete access
What are the limitations of balanced growth? The limitations of balanced growth: • The strategy of balanced growth is away from the resources of most poor countries; • Go
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Is an unequal distribution of income and wealth a problem? Explain in short. Yes: because specified no government intervention, which on very low incomes cannot afford necessar
What are Harrod-Domar assumptions? The H-D (Harrod-Domar) model assumes as: • Fixed capital output ratio. Nonetheless, diminishing marginal returns to capital element exist
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