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Are the terms of trade (ToT) a problem? Problem : The terms of trade (ToT) of a country fall when its import prices rise quicker than the price of its exports. Less Developed
General Agreement on T arif fs and Trade (GATT) A multilateral treaty, the basic goals of which are: (1) to liberalize and promote world trade via multilatera
What is the difference between absolute and comparative advantage? Difference between absolute and comparative advantage: • Absolute advantage arises while a country or reg
What is culture and human capital? Human capital is the knowledge, experience and skills of employees and can be raised by investing into education, job training and health
Does the structure of the population issue? Dependents into an economy, children as well as old people are assists by the economically active. Dependency ratio uses to measure
What are the assumptions of unbalanced growth? Development cannot be initiated through one industry. Government recognize strategically significant areas to planned economy or
how can a community having water shortages issues be resolved using marginal utility and consumer behaviour
what do you call an entrepreneur using someone elses ideas to start a business
Why do markets work into promoting development? Liberal economists dispute a free market economy works since this gives incentives for self-generating growth. Particularly the
essay on Localization of Industries
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