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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.
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Measuring the Economic Value of Education A review of research works regarding the economic value of education shows that it developed in four different directions. They a
Using a demand and supply diagram,analyse the effect on the market for Ghanaian football shirts. a. A fall in incomes in Ghana and neighboring countries
Suppose that a firm’s production function is given by Q=30L-3L2, where L is labor input and Q is the output. a) Derive and draw the firm’s demand for labor while the firm’s produc
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What currency was used in the 1700s? Ans) this is depends on the country. Most currencies, though, were based on gold and silver. In America, in the 13 colonies, tobacco wa
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