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Economic Development The word development is from the Latin root ‘Voloper’ which meant wrap up, envelop. The English used this word along with ‘des’ meaning ‘undo’. The word
Q. What is Cost effectiveness analysis? Cost effectiveness analysis A method which seeks to identify the least cost option for meeting a particular objective. It actives prior
What is Diverstification?
Q. Strength of the multiplier in microeconomics? Multiplier: An initial stimulus to spending (in form of new consumer, business or government purchases) generally results in a
The Standard Indifference Curve Diagram. The standard model of labour leisure choice does not distinguish between females and males. It is a unisex model. The vertical axis gives
Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive
Problem 1: (a) Explain the meaning of poverty. Briefly explain how poverty is measured? (b) Clearly explain the relationship between Poverty, Inequality and Economic Growt
Q. What is Economic efficiency? Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is th
What is law of demand
how a capitalist system solves the three fundamental economic problems
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