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Outline the possible negative effects of import-substitution policies.
Define and outline import-substitution; focus on reducing domestic reliance on imports by implementing high barriers to trade and channelling government resources towards specified domestic industries. The rather dismal results of import-substitution include 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.
demand elasticity
World Trade Organization: An international economic organization based in Geneva, Switzerland,formed in 1995 which is dedicated to promoting greater trade and investment among its
Could I have examples of syndicated and organized oligopolies with companies as examples
Program Spending: Government spending that is undertaken to provide useful public programs. Program spending includes both transfer payments which are intended to supplement the in
1. Definition: AGE-SPECIFIC DEATH RATE is the total number of deaths to residents of a specified age or age group in a specified geographic area (country, state, county, etc.)
As stock markets have crashed, and uncertainty has increased, consumers move their money to the safest currencies and countries in the world. Predict the effects of an increase in
how to calculate it given a functuion
What are the differentiated conditions of economic issue? While discussing an economic issue, this is very important to differentiate between: (a) Two types of conditions: e
The price of milk is usually much less expensive in a grocery store versus a convenience store. Using economic terminology, explain why people purchase milk at convenience stores.
Q. Explain about Natural Monopoly? Natural Monopoly: In some industries, economies of scale are so strong that it makes most economic sense for there to be just one supplier. T
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