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FOREIGN TRADE:
Interdependence between the economies of the world has increased multifold. External sector in the economy has gained primeimportance. Both exports and imports contribute to the production process. Both of these are effective instruments in raising the income levels of the people in a developing economy. Apart from flow of goods, increasing flow of services and capital between the nations give rise to payments and receipts in foreign exchange which, in turn, influence the Balance of Payment's position. In this unit, we shall examine foreign trade and Balance of Payments, trade policy and various policy measures for rapid growth of exports. Let us begin with explaining the relationship between foreign trade and economic growth.
Sources of Divergence The principal cause of extraordinary variation in output per worker between countries today are differences in their corresponding steady-state capital-ou
Sample Survey and Test Marketing: Under this method some representative households are selected on random basis as samples and their opinion is taken as the generalized opinio
Q. Explain Labour Intensity? Labour Intensity: Ratio of labour effort expended, compared to total on-the-job compensated labour time. A higher ratio of labour intensity reflect
ed=1 means p
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