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How does resource enhancement improve development?
Enhancements in the quantity and quality of resources increases productivity hence incomes. Enhanced management raises output from specified inputs:
• Production or output is the value of output (Q)
• Productivity or average product (AP) is output person which is output divided with number of employees AP= Q/L. Labour Productivity can be demonstrated as output per worker or output per hour worked.
Countries along with above average productivity have lower unit costs and a competitive benefit over countries along with low productivity.
What is social exclusion? Social Exclusion: Social exclusion arises while people are denied access to goods opportunities taken as normal in a society. In several develo
function of economics
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
#question the importance of managerial economics..
Consider the economy (above) again where the following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4) for the prices (p 1 , p 2 , p 3 )=(1, 1, 1).
Critically evaluate measures used by governments and central banks to manage the economies of their countries. By critical evaluation use convincing arguments for or against measur
• Although the country produced several types of commodities (goods and services) in the year 2002, but this country's Central Statistics Office has grouped such commodities into f
impact of economic policies on decision of any organisation
What is the Infant Industry argument? Several governments seek to protect involving industries by premature competition. Infant industries have potential comparative benefit b
What is poor governance? In countries along with poor governance: • The rule of law has not working for example civil war and areas run by war lord • Bribery and corrupti
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