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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.
• Although the country produced several types of commodities (goods and services) in the year 2002, but this country's Central Statistics Office has grouped such commodities into f
summary
#question."ledger is said to be the principle book of entry and the transaction can be even be directly entered into the ledger account."Elaborate on the statement
Procedure for export under deferred paymet
The amount of a good or service that a consumer is willing and able to buy at each particular price
What is the Infant Industry argument? Several governments seek to protect involving industries by premature competition. Infant industries have potential comparative benefit b
What is the difference between wealth and income? Difference between wealth and income: • Wealth , which is a stock value that is the current value of assets for example b
What is Rostowís model? Rostowís Stages of Growth model argues to attain modernity all countries pass through similar stages of development as explained as follows: a. Sta
Question 1: The triple concepts- globalisation, good governance and democracy- have largely dominated international discourse since a long time. (a) Briefly explain the ter
What is Frugal Economy
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