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Problem 1:
(a) Explain the common set of problems that developing countries usually face.
(b) In your opinion, which of the problems described in part (a), are more significant to Mauritius? Justify your answer.
(c) Critically assess whether education is a source of economic growth and development.
Probelm 2:
(a) Describe the different views on development.
(b) Describe why development must be conceived as a dynamic and multidimensional process, involving major changes in every aspect of a society.
Participation in Global System of Production: As national economies are getting more inter-linked, the share of foreign components in most manufactured products is progressiv
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
Question 1: The price of the good X rises from $1.30 to $1.40. Calculate the price elasticity of demand by using the mid-point method. Question 2: How do you explain the answer
A tax imposed on a market with an inelastic demand and an elastic supply will cause
What factors shift the Aggregate demand curve to right and what factors shift the AD curve to left? AD shifts to the right when any component of AD enhances autonomously; e.g
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During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
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Analyze the sustainable approach to waste reduction developed by the company you selected. Include the following: Its products Previous methods of production The way it implemented
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