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Does the work of the International Monetary Fund and World Bank overlap? Less developed countries turn to the: • International Monetary Fund to resolve debt repayment, exch
What are the traditional, modern sectors and rural-urban migration? Rural-urban migration: Rural-urban migration is the movement of labour through the countryside to cities
Does economic growth automatically reduce poverty? Growth implies more goods and services are obtainable to satisfy more wants and requirements. But the benefits of growth may
What are the internal constraints on government action less developed countries? Internal Constraints on Government Action LDCs: • Have restricted domestic resources to ac
What is culture and human capital? Human capital is the knowledge, experience and skills of employees and can be raised by investing into education, job training and health
Why are many economists opposed to licensure of medical facilities and personnel?
#question.discuss the contention that the existance of a labour market is characterised by perfect competition is a fallacy.
Problem: (a) Critically asses the difference between economic growth and economic development. (b) Describe the definition of economic development as a multidimensional pro
What is the difference between wealth and income? Difference between wealth and income: • Wealth , which is a stock value that is the current value of assets for example b
Demand
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