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Why do countries trade?
International trade is the swap of goods and services among countries. Trade enhances consumer choice and complete welfare.
Various countries have various types of factor endowments as like climate, skilled labour force and also natural resources vary among nations. Therefore several countries are better placed in the production of specific goods than all others.
Economic theory predicts all countries achieve when they specialise and trade the goods wherein they have a comparative benefit. It is true even if one nation has an absolute benefit over the other country.
What is social inclusion? Social Inclusion: Social inclusion implies the whole of society enjoys the advantages of economic activity (as income) and have complete access
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What is structural change? Structural change: Structural change arises while the associate share of GDP and employment accounted for through the primary, secondary and te
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why does the quantity of salt demanded tend to be unresponsive to change in its price?
a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
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There are some examples to government act upon of dip recession. Number of unemployment last long years in companies and take away labour in order to decreased pressure on expen
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