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What is poor governance? In countries along with poor governance: • The rule of law has not working for example civil war and areas run by war lord • Bribery and corrupti
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
Think of circumstances at home, at work, at university or into a club to which you belong. This is a situation which involves you. You want to modify the present circumstances and
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Price Ceilings and Floors 1. Explain the impact on the market if the government imposes the following price ceilings and floors. 2. Draw two graphs, one for eggs, and one
Question 1 Explain the law of diminishing returns. What are its causes and effects? Question 2 Compare perfect and imperfect markets Question 3 A monopolist with a linea
Why are economies developed of less developed countries by growing its secondary sector? Economies cannot grow of less developed countries by developing its secondary sector si
How does economic system influence the development process? The development experience of free market or capitalist and command as socialist/communist countries is extremely d
What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the
Is ownership of change important for development? Successful polices depend onto countries owning the process. When the economic reforms required for development are considere
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