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What is Economic development theory?
Economic development theories and models seek to describe and predict how the:
• Economies may develop or not over time in excess
• Barriers to growth can be known and overcome
• Government can encourage or start, accelerate and sustain growth with suitable development polices.
Why are markets considered as unsuitable for promoting development? The process of establishing a market system frequently includes radical reform which produces both winners
analyse the effect of an increase in the price of sim cards on the equilibrium price and equilibrium quantity of cellphones handsets
What are the disadvantages of informal economy? Disadvantages of the informal sector are as illustrated below: • don’t pay direct taxes; • Can produce important pollutio
What are the problems of the sustainability in economic growth? Sustainability Problem in Economic Growth: Recent economic growth makes threats the future quality of life. S
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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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Illustrate the implications of agricultural price instability problem for Less Developed Countries? Implications of agricultural price instability problem for LDCs: a. Agric
QUESTION 1 (a) What are the objectives and instruments of monetary policy? (b) "With financial liberalisation, there is a need to shift from direct instruments to indirect m
Explain how the economic theories applied in business economics
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