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how the concept of elasticity used for policy formulation
How does colonial background influence the development process? Colonial experience influences: • Language for example the official language of US is English. • Legal and
Describe the terms inflation, deflation, and inflation rate and price stability. Inflation and Deflation: a. An increasing aggregate price level is called as inflation.
Are weaknesses of financial markets a problem? Problem: a. Potential entrepreneurs require funds to finance new projects. Financial institutions, as like banks, are middle
How does population growth produce development? The impact of population growth depends upon the form: • By net migration. When the increase into population is highly skill
Discuss how income flows in governed economy
Star Petroleum and Moonlight Petroleum are retail petrol stations that compete in the local market to sell petrol to consumers. Star and Moonlight are located across the street fro
What is Foreign Debt Management? Debt management considers as to the arrangements made to: • Protected the suitable amount of borrowing to deliver growth • Ignore excess
Does the work of the International Monetary Fund and World Bank overlap? Less developed countries turn to the: • International Monetary Fund to resolve debt repayment, exch
What are the Economies at Different Stages of Development? Economies at Different Stages of Development: • LDCs (Less Developed Countries) share common features but all one
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