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In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the
A transition economy is Moving from a planned to a mixed or free market economy.
How can be comparative advantage improved? Comparative advantage can be gained or improved through: • Investment during the education and also in training • Investment wi
Currency Option Combinations A currency option combination uses simultaneous call and put option positions to construct a unique position to suit the hedger's or speculator's n
What are the characteristics of growth in developed countries? Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below: • Gross
Ask question different between Marginalism & incrementalism #Minimum 100 words accepted#
Mercantilism was the economic philosophy underlying English colonial policy. The object of mercantilism was to enhance the wealth of the Mother County (Great Britain) in gold & sil
What is capital accumulation? Capital accumulation simply implies an increase into a country is stock or amount of capital over time. It requires net investment, which is inve
purely competitive firms increase total revenue by
The managing director of Christine plc, a company which specialises in acquiring small businesses, has considered the following potential investments. Only one of these investments
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