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Is economic development is based on goverment
Many governments--mainly unelected governments-aren't that interested in economic development. Giving valuable industrial franchises to nephews of dictator; making sure that members of your ethnic group are in key places to extort bribes; or taking foreign exchange which would have been spent importing productive machinery and equipment and using it in place of buy more modern weapons for the army--these can seem more attractive options. In absence of political democracy checks on a government that doesn't seek economic development are few.
Furthermore checks on government that do exist may not be helpful. In a non-democracy--or a shaky semi-democracy--there are two probable sources of pressure on government: riots in the capital and coups by the soldiers. Even a government which seeks only the best for its people in terms of economic growth would have to deal with these sources of pressure and will have to avoid coups by soldiers and riots in capital.
Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
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It is necessary for the proper understanding of the price theory to know the various concepts of cost that are often employed. When an entrepreneur undertakes production of a commo
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Define why prices is significant for economy Reason for using different weights is that some prices are more significant than others for economy. Price of gasoline, for instanc
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#. The following information applies to the market for a particular items in the absence of a unit excise tax: Price($ per unit) Quantity Supplied Quantity Demanded 4 50
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excess reserve make a bank less vulnerable to runs.why
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