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Most studies of firms’ long run costs have found that average costs decline as firms produce increasingly larger output levels (economies of scale), such as for automobile firms. H
How does culture influence the development process? Culture influences what is of value into a society and affects how individuals, communities and organisations react to modi
Do you agree with the traditional theory that assumes profit maximization as sole objective of a business firm?
DEVELOPMENT THROUGH RESOURCE TRANSFER is explained below The chief idea here was that (as mentioned previous) poor countries suffered from the savings and foreign exchange gaps
How does population growth produce development? The impact of population growth depends upon the form: • By net migration. When the increase into population is highly skill
What are the restrictions of unbalanced growth? The restrictions of unbalanced growth: • Frequently governments go for high status, capital-intensive and high tech projects
Why does a production possibilities frontier with increasing opportunity costs have a bowed-out shape?
explain how inflation could reduce the efficiency with which prices allocate resources.
What are Rostowís assumptions? Assumptions of Rostowís: • Economic development procedure is universal which is all countries whether within Africa or Asia go by the same se
what is the ethics of command economics?
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