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Explain how getting right price affected the market for promoting development.
Getting prices right implies:
• Abolishing price controls as well as subsides on fundamentals. Higher prices which deny the very poor access to essentials as like clean water and electricity.
• Privatisation which can result into potential windfall profits to wealthy domestic as well as foreign speculators
• Deregulation which weakens the rules which defend consumers and workers from exploitation and causes environmental through unchecked negative externalities damage.
You are given the following functions in a fully competitive market: Market demand function: Qd = 20 – 3P Market supply function: Qs = 4 + P Where P is price A) In which price s
What are the characteristics of growth in developed countries? Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below: • Gross
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