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Q. Explain about Demand - Constrained?
Demand-Constrained: An economy is demand-constrained when level of output and employment is limited by the amount of overall demand (or spending) on its products. Capitalist economy is generally demand-constrained. Only rarely is the economy supply constrained: that is, limited by availability of workers and other productive resources.
Why is human capital so important in the development process? Explain human capital in terms of (the sum of) education/training/experience/ literacy etc, and clearly show how t
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