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(i) Explain the term capital accumulation.
(ii) Explain the different views on economic development.
(iii) In the golden age of globalization countries, especially developing, are called-upon to prioritise human capacity building in their domestic agenda. In this context, critically assess whether education is a source of economic growth.
(iv) To what extent does convergence of economic policies across countries leads to improvement in world economic outcomes?
Discuss, using examples the economic consequences of a sudden monopolization of an industry that had been previously been competitive
What are development policies? Development policies are strategies adopted through governments, international agencies as like the IMF and non-government organisation (NGOs) a
Explain the state intervention approaches for promoting development. State intervention can result within: • Large bureaucracies staffed through friends and relatives of the
What are the limitations of balanced growth? The limitations of balanced growth: • The strategy of balanced growth is away from the resources of most poor countries; • Go
There are two agents, A and B. Both have preferences represented by a von Neumann-Morgenstern utility function u(c s j ) = ln (c s j ), where c s j is consumption of agent j in
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Find quantity supplied and quantity demanded: Suppose there are 300 used cars, with 3 quality levels: bad, medium, and good. A seller knows the quality of his car but a buyer
Can less developed countries economies grow by developing services as tourism? Less developed countries economies grow by developing services as tourism when: The less deve
If nominal GNP enhances at a rate of 10 per cent per year whereas the GNP deflator enhances at 8 per cent per year then show how much real GNP rises. Explain?
theory of profit maximisation
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