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Question:
(a) Describe the two major developments which have led in the adoption of Import Substitution Industrialisation by Developing Countries in the 1940s/50s.
(b) Illustrate the logic behind Import Substitution Industralisation
(c) What is the principle justification for Import Substitution Industrialisation? On which ground has this argument been criticised?
Question 2:
(a) Explain the various forms of economic integration.
(b) What are the stages of the European Economic and Monetary Union?
can economic laws proved universly
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Disadvantages of State Trading State trading has several disadvantages. (i) State trading is often afflicted by the corruption and inefficiency usually associated with the pu
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contrast the longrun equilibrium positions of monopolistic competition firm and oligopoly
Compensated Demand Curve: Compensated demand function for a commodity (say x1) of an individual consumer represents demand quantity for that good (which is purchased by the co
consumer surplus fot tea
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Consider a two-period economy with a single commodity (say leisure): x1 is the con- sumption of leisure in period 1, and x2 is the consumption of leisure in period 2. When Peter ev
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