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What are rural and urban sectors? Rural and urban sectors: • Rural sector consider as countryside. 60 to 70 percent of LDC (Less Developed County) population live into r
What are Newly Industrialised Countries (NICs)? Newly Industrialised Countries: Recently Industrialised Countries (NICs) are LDCs which have undergone recent, quick indus
When it works, government "industrial policy" that funnels critical capital to just the right ventures and facilitates market coordination-in contrast to usually messy market compe
The Australian government administers two programs that affect the market for cigarettes. First, media campaigns and labelling requirements aimed at making public aware of the dan
explain how inflation could reduce the efficiency with which prices allocate resources.
A transition economy is Moving from a planned to a mixed or free market economy.
What are social cohesion, social capital and social inclusion? Development economics importance the role of social capital, cohesion and inclusion into the process of developm
What are economic sectors? For the functions of analysis the production of goods and services can be classified in four groupings as given below: a. Primary sector b. Se
Illustrate liberalise or open up trade in market for promoting development? Liberalise or open up trade implies that: • Abandoning fixed exchange rates and elimination of re
Define three methods than could be utilized to exercise quality control and describe the advantages and disadvantages of all. Methods comprise: • Self-checking: Rapid, ch
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