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Why are the terms of trade deteriorating for Less Developed Countries?
Problem: The substantial decline within real commodity prices and the deterioration into the terms of trade has been a main factor into worsening the trade into goods of several developing countries
• The price elasticity of demand (PED) for agricultural goods counting cash crops as coffee is price inelastic. When LDCs rises the supply price falls through a larger percentage.
• Furthermore the income elasticity of demand (YED) for the agricultural products is some low. World income grows the demand for agriculture rises through a smaller amount.
purely competitive firms increase total revenue by
What are some of the changes taking place in the international business environment? How do changes in the international business environment affect pricing, output, cost and profi
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why does the quantity of salt demanded tend to be unresponsive to change in its price?
Technological development is taking place at a very fast rate in all the fields like mechanical metalluringical chemical electrical and civil. These days every man is surrou
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