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What are the limits of development theories? Theories are generalisations: • When LDCs share similarities, each country is unique economic, cultural, social and historical
Problem 1: (a) In what specific ways does Becker's model of the allocation of time differ from the simple work-leisure choice model? (b) Compare and contrast the functioning
S M Construction has been awarded a contract to build a new manufacturing plant just outside Cardiff. The activity on arrow table below gives data on the activities involved in the
What are the predictions of balanced growth? When government can co-ordinate immediate investment in several industries one firm gives a market for another. It needs state pla
Are international capital flows a problem? Problem: Capital flows can have an adverse outcome onto: a. Balance of payments (BoP): Shortly term capital inflows can be like:
Accountants prepare income statements typically in terms of historical costs, in terms of the purchase price, rather than in terms of the current price. The reasons given for this
New trade theory
(a) Using the basic concept of price elasticity of demand for his product, describe how the producer may raise his total revenue. (b) With reference to an initial set of marke
Problem-solving question: Use the following data for a firm’s output at various levels of employment (L) to calculate: a) its marginal physical product of labor (MPPL) schedule; (
How can the savings gap be plugged? Low savings are a barrier type to growth. All developing countries have low incomes therefore low savings. A savings gap can be met through
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