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What are the similarities among the developing economies? Common characteristics of LDCs (Less Developed Countries) include: • Low living standards (that is low real income
What is factor endowment problem? Factor endowment Problem: Several LDCs have a poor factor endowment than productivity and incomes both are very low according to world
How much power or influence does a U.S. President versus a company CEO actually have in a free enterprise system, when it comes to producing jobs or the decision to manufacture co
What are the characteristics of the informal sector? The characteristics of the informal sector comprise: • working for yourself quite than an employer, • Small scale ent
What are the reasons for globalisation? Globalisation is the result of: • Enhancements in communications and transport, • Elimination of trade limits and exchange contro
What is effectiveness of International Monetary Fund, in the promotion of development? Effectiveness of International Monetary Fund, in the promotion of development: Interna
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)
Question 1: (a) "Money demand is inversely related to interest rates and is stable over time." Discuss the theoretical and empirical validity of this statement. (i) Analyse
PROBLEMS OF LOWER INCOME COUNTRIES There are vast income and wealth disparities in world we live in. Approximately one-fourth of the world’s population accounts for the three-f
What is Frugal Economy
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