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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
Answer in True or Flees 1. "Revealed preference methods for valuing environmental services and goods (for example hedonic price method, travel cost model, etc.) can reveal non-
Question: (a) With reference to the characteristics of market structure, describe why the market for powdered milk in Mauritius is an appropriate example of monopolistic compe
Not sure how to graph & calculate a retail price of $30 & avg cost $20 assuming that the equation for demand is Q=10,000-9,000P, where P=retail price & Q=# sold per month.Then to s
Why is it true that shortages usually occur mainly when price controls are in effect? In the nonexistence of price controls the shortage generally goes away quickly because price
Returns to Scale Measuring relationship between scale (size) of a firm and output 1. Increasing returns to scale: output more than doubles when all the inputs are doubled
NEW CLASSICAL BUSINES CYCLE THOERY: Yang, Xioaokai, Economics: New Classical versus Neoclassical Frameworks, Oxford: Blackwell Publishers. The book goes on to rigorously dev
Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
can economic laws proved universly
True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."
Around 2007, the world copper price was $2.00 per pound and 12 million metric tons per year was the quantity transacted. A) Assume copper’s demand elasticity is -.5 and supply elas
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