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What do you mean by standard of living? Standard of living (SoL): It is incomer per capita (head) and it is determined by national income (GDP) divided through total pop
factors that affects sthe volume of production in economy
interaction between the two market force, demand and supply
Define the difference between configuration management and change control and the relationship among them. Change control is the management of the project scope. Configuration
Are the terms of trade (ToT) a problem? Problem : The terms of trade (ToT) of a country fall when its import prices rise quicker than the price of its exports. Less Developed
(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
What are the differences among developing economies? Developing countries are diverse. They can be different in terms of as: • Resource Endowment for example, a country is
Question 1: (a) Discuss the relationship that exists between financial capital and physical capital. (b) Analyse how a stock-market crash would drive an economy into a
What factors affect Population Change? Population growth is affected by given factors: • Births from the 1960s birth rates have declined quickly inmost LDCs except which in
Is there an optimum population size for a country? Optimum (best) population arises while productivity that is output per person is highest. • An under-populated country ca
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