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How did foreign debt arise?
Evaluation: Borrowing shows an injection of new resources in the domestic economy and also an opportunity for development.
• When borrowed resources are used to raise productive capacity, in that case the loan and interest repayments can be met through economic growth.
• When the loan is used to finance current account deficits in that case there is no net investment as well as future economic growth. Debt is a burden.
What is Economic development theory? Economic development theories and models seek to describe and predict how the: • Economies may develop or not over time in excess •
QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) Distinguish between centrally planned, laissez-faire and mixed economic systems rega
A Korean BBQ restaurant has four workers for washing jobs: Dane, June, Park, and Pola. Each workers eight hours a day and can produce two washing services: Washing rice bowls and w
What is the capital-output ratio? Capital-output ratio: This ratio (k) is the amount of capital required to produce £1 of Gross Domestic Product generated, every year.
QUESTION No point is better accepted than the fact that the monopoly price is higher and the output smaller than what is socially ideal. The public is the victim. (a) Distin
How less developed countries cannot economies grow by developing services as tourism? Less developed countries cannot economies grow by developing services as tourism if: Ga
What is the difference between wealth and income? Difference between wealth and income: • Wealth , which is a stock value that is the current value of assets for example b
Define given terms: Actual Cost of Work Performed (ACWP); Budgeted Cost of Work Performed (BCWP); Budgeted Cost of Work Scheduled (BCWS). • ACWP is the amount of attempt (exp
explain the role scarcity of resources plays in economic decision making
interaction between the two market force, demand and supply
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