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What is absolute poverty and relative poverty? Absolute poverty: It is an income level below that essential to meet fundamental requirements. The UN measure of absolute
QUESTION (a) Discuss whether international trade between countries is always beneficial. (b) What are the economic reasons for protectionism? (c) Does the National Income
Explain the notion of the hidden momentum of population growth. Why is this an important concept for projecting future population trends in different developing nations?
In AS/AD model monetary polices is seen to working primly through its effect on interest rate. There are some example to understand to interest policy impact on exchange rate an
What are the assumptions of dependency theory? The assumptions of dependency theory: Dependency theory extends Marx is theory of surplus value to international relationship
What is the effectiveness of Non-Government Organisations, within the promotion of development? Critics argue NGOs (Non-Government Organisations): • Are self-serving and se
what is production analysis?
Explain about the term Traditional Economy. Traditional economy: It is where decisions regarding what, how and for whom to produce are based onto tradition and custom. A
How can external trade promote economic development and growth? International trade permits increased specialisation than higher output permits economies of scale. • A big m
What are Newly Industrialised Countries (NICs)? Newly Industrialised Countries: Recently Industrialised Countries (NICs) are LDCs which have undergone recent, quick indus
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