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When it works, government "industrial policy" that funnels critical capital to just the right ventures and facilitates market coordination-in contrast to usually messy market competition-is quite compelling. What primary unappealing aspect of industrial policy leads a lot of economists to prefer the messiness of market competition?
What are the restrictions of Lewis? The restrictions of Lewis: • Assumes complete employment in urban regions. Evidence recommend otherwise • Raised profits may be inves
#question.During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in t
#quewhat is production analysis stion..
Problem: (a) Critically asses the difference between economic growth and economic development. (b) Describe the definition of economic development as a multidimensional pro
define scarcity and opportunity cost? what role these two concepts play in the making of decision making?
abstract & conclusion
What is capital accumulation? Capital accumulation simply implies an increase into a country is stock or amount of capital over time. It requires net investment, which is inve
characterestic of economics
(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
What is dependency theory? Dependency Theory: Dependency theory uses economic and political theory to describe how the procedure of international trade and domestic deve
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