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What is good governance? Governance is fundamentally another word for government and is a necessary precondition for development. It is how governments employ their authority
WHAT IS OPPOTUNITY COST?
How is Micro or Microfinance credit assists in financial markets? Micro or Microfinance credit assists: • Grow businesses and raise the income of the poor • Extra income
EVALUATING THE IMPLICATION OF IMPLIMENTING PRODUCT MIX FOR FREIGHT RAILWAYS
Why are state approaches occasionally considered as unsuitable for promoting development? Liberal economists’ argument government intervention really thwarts development. G
Explain the concept of scarcity, and the role it plays in decision making
Why is the growth rate and significant for development? The rate of economic development is the percentage increase within real GDP over twelve months. • The higher rate of
2. You recommend spending $10,000 on equipment that will increase sales of your product by $1000 a year and reduce annual operating costs by $800. The equipment has 10-year lifetim
Explain the elasticity of price expectations?
QUESTION 1 (a) Explain the relationship between scarcity, choice and opportunity cost. (b) How is choice about the use of scarce resources made in a market economy? QUES
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