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What are economic systems?
An economic system is the system of organisations utilized by a society to solve the economic difficulty of what how and for whom to make. There are four types of economic system.
a. Traditional economy
b. Free market economy
c. Planned or command economy and
d. Mixed economy
What is the development gap? The development gap refers to the divergence between standards of living in the developed and developing world. As like Source World Bank:
Assume Mr. Robinson deposits pounds 600 in currency at a bank. Later that day Ms. Volker borrows pounds 1200 from the similar bank. The money supply will have enhanced by pounds 60
#question the importance of managerial economics..
What are rural and urban sectors? Rural and urban sectors: • Rural sector consider as countryside. 60 to 70 percent of LDC (Less Developed County) population live into r
Development Strategies are explained as follows: Keeping the reasons for the persistent poverty in the LICs aside, there are three broad progress strategies which have been ado
state the demand theory.
What are Rostowís assumptions? Assumptions of Rostowís: • Economic development procedure is universal which is all countries whether within Africa or Asia go by the same se
Keynesian economics policy could be distinguished from the classical economics as the main through of the classical theory is that supply creates its own demand which is described
QUESTION (a) In several countries recently, many people have become unemployed. Analyse the different types of unemployment in an economy. (b) Define inflation and explain i
Foundations in Business and Commerce 1. What is logistics networking? 2. Write a short note on ethics in retailing. 3. What is the concept of insurance? 4. Describ
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