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Question 1: a) Explain, with the use of examples, what is meant by the ‘Factor Endowment Theory'. b) According to you, can the ‘Factor Endowment Theory' be a reasonable e
What are Harrod-Domar restrictions? Harrod-Domar restrictions: • Non economic social, cultural, political and institutional circumstances are unimportant into growth pro
What are economic sectors? For the functions of analysis the production of goods and services can be classified in four groupings as given below: a. Primary sector b. Se
What is poor governance? In countries along with poor governance: • The rule of law has not working for example civil war and areas run by war lord • Bribery and corrupti
What is PPC
Explain short run costs breifly.. In analyzing factor cost in an environment, accountants and economists speak much the same language. This is become, in a competitive market,
Why are economies developed of less developed countries by growing its secondary sector? Economies cannot grow of less developed countries by developing its secondary sector si
(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
How is staff experience affected to an IS project? Staff experience: Into IS, the productivity of people, particularly developers, can vary extensively, largely but not c
For the special case when firms are price takers, what is the relation between total revenue, average revenue, marginal revenue and price?
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