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Sources of Economic growth:
Human resources: Investment in human capital is considered as an important factor for economic growth. This is done by increasing the quality of a nation’s labour force through education and training in advance technology. It has also been proved that literacy not only improves productivity but also makes an individual more adaptable to new challenges.
Natural resources: Availability of natural resources (land and mineral) to a nation is also a vital source of growth. It is not only the availability of these resources but the extent to which they are exploited. It should be noted that for the exploitation of these resources care should be taken not to sacrifice the environment. This means that growth through exploitation of these resources should be sustainable and maintain environmental quality.
edge worth model
Explain about the determination of equilibria. Determination of Equilibria: The fourth step for studying an economic step is to make trade-off choices and find out the be
Disadvantages of State Trading State trading has several disadvantages. (i) State trading is often afflicted by the corruption and inefficiency usually associated with the pu
What currency was used in the 1700s? Ans) this is depends on the country. Most currencies, though, were based on gold and silver. In America, in the 13 colonies, tobacco wa
If the price of that cup of teh-tarik has increased in such an amount,economists may not necessarily conclude that the country is going throungh inflation.why is that so?
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Two firms produce a pollutant called Q. The total costs of reducing emissions of Q are as follows for Firm 1 and Firm 2, respectively: TC1=10+100Q12 TC2=20 + 50Q22. This means tha
mancosa assignment
Disadvantages of division of labour: Division of labour may also have disadvantages that may include the following: (i) Lack of Craftsmanship Division of labour does not m
Consider a market that is served by a single-price monopolist with marginal cost given by MC = $100 + Q. The market demand is given by P = $800 – 3Q. Determine the following: the f
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