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What is the Lewis Model? The Lewis Model argues economic growth needs structural change into the economy whereby surplus labour within traditional agricultural sector along wit
What are Newly Industrialised Countries (NICs)? Newly Industrialised Countries: Recently Industrialised Countries (NICs) are LDCs which have undergone recent, quick indus
What is the development gap? The development gap refers to the divergence between standards of living in the developed and developing world. As like Source World Bank:
Procedure for export under deferred paymet
What is the Third World? Third World: Developing countries are sometimes termed as collectively like the Third World. Such term can cause offence within developing nation
Describe the characteristics of Monopolistic Competition
A sample of 58 mutual funds was taken and the mean return in the sample was 14% with a standard deviation of 9.3%. The return on a particular index of stocks (against which the mut
QUESTION (a) Discuss whether international trade between countries is always beneficial. (b) What are the economic reasons for protectionism? (c) Does the National Income
Question: (a) State whether the following statements are TRUE or FALSE. Justify briefly your answer. (i) Money is the most liquid medium to store value. (ii) An increa
Is industrialisation significant in the process of development? Industrialisation is considered as a major driver of LDC development. Industrialisation arises while a predomin
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