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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.
Demonstrate graphically the cost of income taxation of 30% to consumers and producers for an income of $27,908. How does the taxation change if the income was $220,874? How does
definition, advantages and disadvantages of privatisation?
Why are markets considered as unsuitable for promoting development? The process of establishing a market system frequently includes radical reform which produces both winners
QUESTION a) Explain with the use of appropriate techniques how can an increase in investment spills over to other sectors in the economy and what affects the final impact on ec
optimal use of variable input
Make a general comparison analysis of all the business units
Discuss how income flows in governed economy
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
QUESTION 1 i) Use a simple human capital model to explain the rationale for undertaking higher education ii) Why do some people vary significantly in the amounts of human ca
Does the work of the International Monetary Fund and World Bank overlap? Less developed countries turn to the: • International Monetary Fund to resolve debt repayment, exch
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