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Explain about theories and models linked to development. • There is no one agreed theory of development. All models, as Rostow, provide an insight in one or two dimensions of t
Development Strategies are explained as follows: Keeping the reasons for the persistent poverty in the LICs aside, there are three broad progress strategies which have been ado
QUESTION (a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost. (b) Distinguish between positive and negative externalities, il
CHALLEGES FACING BUSINESS ORGNIZATION
Discuss about the free market economy in short. Free market economy: Households own resources and markets assign resources throughout the price mechanism. An increase wi
why does the quantity of salt demanded tend to be unresponsive to changes in its price?
Is foreign debt a problem? Foreign debt is the whole amount owed overseas through a country at an exact moment in time. Debt is a problem since • High debt imply high inter
explain how a price disciminating monopoly increases profits
What are the internal constraints on government action less developed countries? Internal Constraints on Government Action LDCs: • Have restricted domestic resources to ac
(a) Assume that Purchase Price is equal to initial Market Value (b) Your Market Rent starts at the indicated level and increases by this factor for all of Year 2 and for each y
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