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The main features of outward-oriented and inward-oriented development strategies.
Inward- oriented as focus on reducing domestic reliance on imports by executing high barriers to trade and channelling government resources towards specified domestic industries.
Outline import-substitution; The rather dismal results of import-substitution contain a strong political rather than economic philosophy , focus on domestic champions which reduced competitiveness, failure to identify winning industries, squandered government resources on goods for which there was no competitive benefit, forward linkage effects and a lack of capital/ skills/ knowledge transferred from abroad
A spherical wave is reflected from a planar mirror sufficiently far from the wave origin so that the Fresnel approximation is satisfied. By regarding the spherical wave locally as
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
the general characterictics of economic models,its limitations and verification
Suppose you are a regulator in charge of allocating water between residential and agricultural users (farmers) in Southern California. You conduct a survey that finds that under th
Q. What do you meant by Payroll Tax? Payroll Tax:A tax which is levied on current employment or payrolls (collected either as a fixed amount per employee or as a percentage of
What is the theory of second best? Prove the theorem with the help of diagram.
what is the combined total demand schedule for Delgian cocoa beans that European and USA consumers buy
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the existance of a labor marketcharacterised by perfect competition is a fallacy.discuss
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
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