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Economic Growth:
Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income. A country is said to experience economic growth if overtime, its real output (real GDP) increases as well as its real per capita income.Economic planning involves the conscious allocation of resources by the government to the various sectors of the economy to promote rapid economic growth. This is done through development plans. There are three dimensions to development planning namely: resources accumulation resource allocation and resource management.A population census is the head count of people living in a geographical area or in a country. A population census collects comprehensive data on people to know e.g. sex, age, educational and occupational backgrounds, religious affiliation, nationality, etc.
Consider an economy with three states. The following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4). The t=0 prices of these stocks are given as follow
inflation wide equality while deflation narrow it down due in aggree distify we answer with algement?
Assess whether market economies have been more successful than planned economies in providing welfare for citizens. The student is expected to outline some of the basic issues
Case 1: The market for drugs Supply, demand, and equilibrium: The market for drugs. Suppose the market for drugs is a perfectly competitive market. Let the supply curve
Elimination of waste - Stock Management Here is a definition of the elimination of waste: Anything other than the minimum amount of equipment, material, parts and working t
how does utility figure in the analysis of consumer demand
What is the theory of absolute and comparative advantage?
Derivation Of Ordinary Demand Function: Suppose, and q 1 = (Q 1 1 , Q 2 1 ,..., Q n 1 )T. Let M0 be the money income and p 0 q 0 = M 0 and p 0 q 0 ≥ p 0 q 1 , where p
Why is the goal of stability and security important to many people? What problems typically emerge during periods of instability? The instability over the business cycle can b
Ask question #Minimu2. Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appra
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