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How can less developed countries economies produced by developing its primary sector as agriculture?
Less developed countries economies cannot grow by developing its primary sector like agriculture since agriculture in LDCs tends to suffers through:
• Low value added and labour along with zero marginal products (Lewis model)
• Low productivity through traditional agricultural methods and land ownership, lack of complementary capital, resulting within a subsistence standard of living into rural regions.
• Natural disasters that can devastate crops
• Volatile prices low YED and PED, output and price instability
• Low and unstable incomes due to, unfavourable and deteriorating terms of trade,
• Agricultural protection in developed countries (for example EU).
Explain how getting right price affected the market for promoting development. Getting prices right implies: • Abolishing price controls as well as subsides on fundamentals.
opportunity cost and decision making
theory of economies of scale,dis-economies,intergration
Short Answer Questions. assignment is based on answers which align to DADA style. pls can u send a quote to me
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