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Is unemployment and underemployment a problem? The cost of unemployment is both: • Economic along with the opportunity cost of lost output raised poverty and inequality
What are the traditional, modern sectors and rural-urban migration? Rural-urban migration: Rural-urban migration is the movement of labour through the countryside to cities
Describe the terms inflation, deflation, and inflation rate and price stability. Inflation and Deflation: a. An increasing aggregate price level is called as inflation.
How can external trade promote economic development and growth? International trade permits increased specialisation than higher output permits economies of scale. • A big m
The amount of a good or service that a consumer is willing and able to buy at each particular price
about replacement and historical costs
What is the success effectiveness of World Trade Organisation in the promotion of development? Success effectiveness of World Trade Organisation in the promotion of developmen
How does economic system influence the development process? The development experience of free market or capitalist and command as socialist/communist countries is extremely d
What is meant by the term managing expectations? Why is expectation management a significant part of the project manager’s job? What affects a customer’s expectations? We all h
What is structural change? Structural change: Structural change arises while the associate share of GDP and employment accounted for through the primary, secondary and te
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