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How do economists differ from accountants in the use of the term profit ?
Definition of rev and accounting costs
a) foregone interest
b) foregone wages
c) risk premium
Can comparative benefit change over time? Comparative benefit is a dynamic concept. A country can obtain or lose comparative advantage overtime when there is a change within r
Does aid improve development? Aid improves development as: • Aid is utilized to increase productive capacity and the advantages of resultant growth is extensively spread an
Can national income figures be used to make comparisons of standard of living among countries? National income measures the Gross Domestic Product of country and therefore can
Why is the growth rate and significant for development? The rate of economic development is the percentage increase within real GDP over twelve months. • The higher rate of
Are patterns of trade a problem? Generalising Less Developed Countries have a comparative advantage into primary products and employment intensive manufacturing; Developed Cou
What is the success effectiveness of multi-national companies (transnationals) in the promotion of development? TNC FDI success into promoting development: • Introduces mode
What are the differences among developing economies? Developing countries are diverse. They can be different in terms of as: • Resource Endowment for example, a country is
Explain about the characteristics required in a risk owner. To be effective within their role, a risk owner’ requirements are as follows: a. Adequate information regarding a
Ask quethe monthly revenue of a certain comany is given by R=820p-7^2p,where p is the price in dollars of the product the company manufacturers. at what price will the revenue be $
QUESTION (a) Explain what factors might determine the level of investment in an economy. (b) ‘If investment increases it will cause an increase in income. If income increase
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