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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?
What are the factors that determine the volume of production?
discuss african traditional methods of production and processing of food
You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a
Devil's Advocate Explicit role undertaken by a group member who actively questions and challenges the group's ideas, procedure, and decisions. Such active questioning helps de
how has the haberlers theory of opportunity cost an improvement over the classical theory of trade
Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon t $3.50 a gallon. Your usage of paint drops from 35 gallons to 20 gallons a month. 1. Co
Economic Ef ficiency The effort to making products and services in the least costly way without sacrificing excellence.
Problem: i) What is meant by ‘own' price elasticity of demand? What factors are likely to affect the size of this elasticity? ii) A publicly owned bus line is running at
Suppose that investment spending increases by $10 million, shifting up the aggregate expenditure line and increasing GDP from GDP1 to GDP2. If the MPC is 0.9, then what is the chan
Consider a consumer with the following Cobb-Douglass utility function: U (x, y) = x α y 1-α a) Find the Marshallian Demand for both goods. b) Find the Price Elasticit
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