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Illustrate some example of the development process affected on culture. Examples of the development process affected on culture: • Foreign Direct investment (FDI) and IMF st
What are the processes of industrialisation for productivity? The process of industrialisation increases productivity and per capita incomes and includes: a. Urbanisation
what is production nfunction
Is the Washington Consensus actually a consensus? The Washington agreement thinking dominates development thinking in the developed world but is challenged through less develo
Assume the firms cost function is: C(Q)= 100+10Q+Q^2 , Determine whether this industry is a natural monopoly when the demand function is: 1) D(P)= 100-3P 2) D(P)= 90-3P 3) D(P)= 10
What do you mean by standard of living? Standard of living (SoL): It is incomer per capita (head) and it is determined by national income (GDP) divided through total pop
Examine the factors that determine the price of computers in a free market. In recent years, the price of personal computers has continued to fall even in the face of increasing de
What are the assumptions of Lewis? LDCs (Less Developed Countries) have two (dual) economies as: • Rural traditional economic and social practices, which overpopulated, s
What is the Washington Consensus? The Washington Consensus is a set of polices arguments advocated through free market economists to motivate growth and it is at the heart of
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
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