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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.
What are Newly Industrialised Countries (NICs)? Newly Industrialised Countries: Recently Industrialised Countries (NICs) are LDCs which have undergone recent, quick indus
Is unemployment and underemployment a problem? The cost of unemployment is both: • Economic along with the opportunity cost of lost output raised poverty and inequality
How is the informal sector, urban modern sectors connected? Several urban regions into developing countries are dualistic as: current formal activity exists side by side along
What is the capital-output ratio? Capital-output ratio: This ratio (k) is the amount of capital required to produce £1 of Gross Domestic Product generated, every year.
Why are economies developed of less developed countries by growing its secondary sector? Economies cannot grow of less developed countries by developing its secondary sector si
what are the resources of economics development
QUESTION (a) Explain the Law of demand and the factors affecting demand for a product or service. (b) Explain and illustrate diagrammatically how the market demand for a pro
I want to do few projects on this topic.
Markets are often classified in terms of the nature of competition and collaboration they facilitate. In economic analysis, if the elements of competitions are “pure” then the mark
The government spending on given goods and several services including public. This is government spending on state-provided goods and services including public and merit goods. Dec
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