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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 are the advantages of informal economy? Advantages of the informal sector: • Employment, opportunities and income. • Offers cheap inputs for the formal sector •
Think of circumstances at home, at work, at university or into a club to which you belong. This is a situation which involves you. You want to modify the present circumstances and
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