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Reasons for development planning:
To maximize the utilization of economic resources: The resources of any nation are not always enough for her use. In this wise, resources must be allocated in such a way that they achieve maximum utilization of them.It is through the proper allocation of their resources that nations can accelerate their pace of economic development.To correct the imperfection of the market system – The market system in reality is not perfect and therefore allocation of resources which occur under perfect competition model does not happen. There is therefore the need to interfere to ensure efficient allocation of resources
To ensure balanced growth: planning may be used to ensure balanced growth for all sectors of the economy.By this there will be uniform growth and provision of complementary services and intra sectoral linkages.
What are the basic economic institutions? There are two fundamental economic institutions which have been so far used into the real world are as: a. Market economic institut
Let {(y i ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where yi and xi satisfy the linear relationship y i = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈ i ) = 0
Briefly explain the main macroeconomic objectives of governments. Definition of macroeconomic issues Growth a) Enhance in national income per unit of time, a
TC = 1q^3 - 40q^2 + 840q + 1800 Price= $750
Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
argument against in favour of traditonel theory profit maximisation
what is diversification
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Individual demand curves for two perfectly competitive market TC1=10q1+1/2q1^2+100 = firm 1 TC2=10q2+q2^2+100
Nonmetals tend to gain electrons. A-Metals tend to lose electrons. B-Atoms have the natural tendency to C-fill their outermost shells. All of the above. D-
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