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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.
Explain the term economic efficiency? Answer: Economic Efficiency means full utilization of all available resources in economy i.e. to produce the needed amount of goods and
what is the Theory of second best? Prove the theorem with the help of digram
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The distinction between supply and the quantity supplied is best made by saying that
Is the terms of trade (TOT) explained as the ratio of the value of exports to the value of imports? How does the TOT relate to the exchange rate? The terms of trade (TOT) is ex
The Concept of Money: Money or paper currency serves three functions in any case: it is the medium of exchange, a store of value and the unit of account. Before paper money was
homework assignments
We discussed why economists prefer to use available statistics and econometric techniques over other means of measuring consumer demand. Write a short essay describing a situation
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Elasticities of supply and demand Other Demand Elasticities – Income elasticity of demand calculates the percentage change in quantity demanded resulting fro
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