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Why does economic development engage structural change? The process of development needs structural change. Usually economies develop by moving resources through agricultural
What are the limits of national income (NY) statistics in measuring development within a country? National income statistics simply show changes in GDP (Gross Domestic Product)
How can be comparative advantage improved? Comparative advantage can be gained or improved through: • Investment during the education and also in training • Investment wi
Identify the features of informal sector in African countries
How static multiplier can be shown diagramatcally
(Price Discrimination) A. Indicate the types of price discrimination for the cases below. Based on the above examples, explain the difference among these types of price discrimi
What are Newly Industrialised Countries (NICs)? Newly Industrialised Countries: Recently Industrialised Countries (NICs) are LDCs which have undergone recent, quick indus
assignment .
what factors affect the volume of production in an economy
What are the restrictions of Lewis? The restrictions of Lewis: • Assumes complete employment in urban regions. Evidence recommend otherwise • Raised profits may be inves
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