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Why are state approaches occasionally considered as unsuitable for promoting development? Liberal economists’ argument government intervention really thwarts development. G
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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 the problems of the sustainability in economic growth? Sustainability Problem in Economic Growth: Recent economic growth makes threats the future quality of life. S
Identify the features of informal sector in African countries
What are the advantages of informal economy? Advantages of the informal sector: • Employment, opportunities and income. • Offers cheap inputs for the formal sector •
Describe situations wherein an IS project may need or wish to use subcontractors. Purposes for using subcontractors include: a. Lack of resources or skills: The organisation
Is foreign debt a problem? Foreign debt is the whole amount owed overseas through a country at an exact moment in time. Debt is a problem since • High debt imply high inter
How do economists differ from accountants in the use of the term profit ? Definition of rev and accounting costs Explanation/outline of opportunity costs, for example
Question 1: Write short notes on any FOUR of the following: (equal marks each) (a) Law of diminishing returns (b) Barriers to entry (c) Consumption Function (d) Devaluati
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