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What is the difference between absolute and comparative advantage? Difference between absolute and comparative advantage: • Absolute advantage arises while a country or reg
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
Net exports normally decrease with the effect when aggregate output decline. When a concretionary fiscal policy is implemented net exports will go up . When government maintain the
how many statics numericals in quantitative economics
What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the
What is urbanisation? Urbanisation arises while an increasing proportion of the population live into cities, suburbs or towns. All cities are attractive to potential migrants s
why do businesses have to sped money (expenditure)in order to succeed?
The project management method envisages a hierarchy of plans. Define this hierarchy. At the top level, there would be a Project Plan which covers the major aspects of the proje
what is production nfunction
Question 1: (a) Explain the core principles of the General Agreement on Tariff and Trade (GATT). (b) Do you think the additional principles introduced by the WTO in 1995 c
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