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Technological development is taking place at a very fast rate in all the fields like mechanical metalluringical chemical electrical and civil. These days every man is surrou
What is a developing economy? To say a country is developed or developing needs indicators. For illustration: • The World Bank classification utilises one economic indicator
how does income flow in a governed economy
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Find quantity supplied and quantity demanded: Suppose there are 300 used cars, with 3 quality levels: bad, medium, and good. A seller knows the quality of his car but a buyer
What is capital accumulation? Capital accumulation simply implies an increase into a country is stock or amount of capital over time. It requires net investment, which is inve
What are Harrod-Domar assumptions? The H-D (Harrod-Domar) model assumes as: • Fixed capital output ratio. Nonetheless, diminishing marginal returns to capital element exist
What are the internal constraints on government action less developed countries? Internal Constraints on Government Action LDCs: • Have restricted domestic resources to ac
How can the population controlled? Governments can take some steps to controlled populations: • Enhance the education of women and their employment opportunities raises and
Explain short run costs breifly.. In analyzing factor cost in an environment, accountants and economists speak much the same language. This is become, in a competitive market,
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