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Why does economic development engage structural change?
The process of development needs structural change. Usually economies develop by moving resources through agricultural and mining to manufacturing and ultimately in the tertiary as services sector.
For economists as Lewis, economic growth needs structural change into the economy for example, a movement of workers by low value added agricultural sector to higher value added to service and manufacturing sectors.
How does social capital influence development? Problem: Low social capital leads to potential conflicts and high transaction costs which hinder growth. Several LDCs (Less Deve
Question: (a) Discuss the conditions necessary to achieve Pareto Efficiency. (b) Competitive markets are generally assumed to lead to a Pareto optimal allocation of resource
QUESTION 1 (a) Illustrate the main causes of inflation in Mauritius. (b) Critically analyse the costs of inflation. Which of these items is likely to have encouraged the Mau
theory of profit maximisation
You can buy as many drinks as you want at $1 each. You can also buy as many chocolate bars as you want at $2 each. You have $5 to spend. You must buy whole bars and drinks, that is
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What are the factors of the economic sectors? The factors of the economic sectors: • Primary sector including natural resources as like agriculture, fishing, quarrying minin
Calculate the market value of your corporation at the end of the sample period. Multiply the last price in the sample times the number of shares outstanding at that time. You can
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