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What are the social economic and non economic factors?
Development is also a procedure involving change in some social economic and non economic factors comprising:
• Economic: structural change into sectors for example, through agriculture to manufacturing dominating GDP, improvement infrastructure;
• Social: people move through rural to cities leaving behind a manner of life;
• Cultural: for example, appointment on merit quite than on the origin of traditional loyalty to family or tribe
• Political: laws insisting on property rights and contracts come out
Questions: Search through newspapers for ONE article that is relevant to the economics concepts. You are also required to attach the article to your final report
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Consider an economy in which George and Harriet consume only ale and bread. George's utility function is UG = aG(bG- 1) where aG and bG are his consumption of ale and bread. Harrie
BENEFITS OF GDP
Currently you purchase 6 packages of hot dogs a month. You will graduate from college in December, and you will start a new job in January. You have no plans to purchase hot dogs i
Index number formulas
2012 Mangoes 91 boxes $7 a box Pinapples 56 boxes $12 a box 2013 Mangoes 108 boxes $14 a box Pinapples 70 boxes $8 a box Real GDP in 2013 using the chained-dol
If the price of a good rises, what are people likely to do? a Substitute a less expensive good b Buy more of the good c Buy more of all goods because of added buying power d All of
In the view of above complications, there is a long-standing debate on whether the fiscal policy should be active or passive in nature. Note that in the Keynesian context; even a p
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