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Why do state approaches work into promoting development?
State planning and intervention is desirable due to the shortcomings of markets. The approaches range of state through planned economies by government setting outputs and prices.
Economic policy intends to protect domestic industry and encourage economic development through
• Heavy tariff barriers and a hostility to foreign direct investment to defend the home market for local firm’s for example
a. Limiting imports by quotas (limits onto the amount of imports permitted in a country)
b. High tariffs (taxes onto imports).
• High fixed swap over controls (high $/£) to create imports relatively inexpensive and exports relatively expensive
• State marketing boards purchase the output of tiny private sector farmers at well below world prices and utilize the foreign currency gain through profits to fund investment. There is low prices distort markets.
Aska) 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 c
Why is not Aid improving development? Aid not improves development because: • Aid is spent on current consumption • It is spent on unsuitable capital as opposed to suitab
how the concept of elasticity used for policy formulation
EVALUATING THE IMPLICATION OF IMPLIMENTING PRODUCT MIX FOR FREIGHT RAILWAYS
Question 1: Poverty reduction is generally influenced by changes in average income and income redistribution. Thus, in practice it is hard to adjust to the right balance betwee
Why do markets work into promoting development? Liberal economists dispute a free market economy works since this gives incentives for self-generating growth. Particularly the
What factory overhead expenses are involved?
QUESTION 1) Explain the term Balance of Payments (BOP) and how a government would intervene to correct a BOP deficit. 2) Explain the protectionist measures that a government
what do you call an entrepreneur using someone elses ideas to start a business
Can less developed countries economies grow by developing services as tourism? Less developed countries economies grow by developing services as tourism when: The less deve
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