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What is aid? Aid is the administered transfer of resources by a donor country or international agency or non-government organisation to less developed countries to encourage e
Usage of Game Theory in Managerial decision
What is factor endowment problem? Factor endowment Problem: Several LDCs have a poor factor endowment than productivity and incomes both are very low according to world
what are the economic problems facing any individual in the economy
What are the limitations of comparative advantage? Limitations of comparative advantage: International trade needs wide specialisation. This can have drawbacks as given b
What are Harrod-Domar assumptions? The H-D (Harrod-Domar) model assumes as: • Fixed capital output ratio. Nonetheless, diminishing marginal returns to capital element exist
FOUR CAUSES OF SLOW OF SOUTH AFRICA ECONOMY
What are the predictions of balanced growth? When government can co-ordinate immediate investment in several industries one firm gives a market for another. It needs state pla
demand and supply curve for luxury goods
QUESTION (a) Explain clearly what inflation is and elaborate on its main causes. (b) "There is a trade-off between inflation and unemployment" Do you agree with this stateme
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