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How does sectoral change enhance development? The Lewis Model argues economic growth needs structural change into the economy whereby surplus labour into traditional agricultu
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Managerial economics bridges the gap between economic theory and practice
Mercantilism was the economic philosophy underlying English colonial policy. The object of mercantilism was to enhance the wealth of the Mother County (Great Britain) in gold & sil
QUESTION a) Differentiate between returns to factor and returns to scale. b) In the long-run the Average Cost Curve is u-shaped. Discuss c) Whenever a firm is making loss
Your project is behind schedule and you are seeing adding extra employees to the team. What would be the potential benefits and drawbacks of this approach? Given that the slipp
Why is the growth rate and significant for development? The rate of economic development is the percentage increase within real GDP over twelve months. • The higher rate of
What is Rostowís model? Rostowís Stages of Growth model argues to attain modernity all countries pass through similar stages of development as explained as follows: a. Sta
Explain the relationship between types of risk action and where each might be utilized. Risk actions are of mainly two types: avoidance actions and mitigation actions: Avoi
QUESTION (a) (i) Define the velocity of circulation of money. (ii) By comparing the Fischer's Quantity Theory of money and Keyne's Liquidity Preference Framework, explain cl
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