historical standards of living and explain what they can infer from these sources. List three indicators of economic development other than National Income measures (NI‚ GDP‚ or GNP‚ level‚ growth rate‚ or per capita) that are of interest to economists and explain what can be inferred from each of these indicators. Explain in detail 3 weaknesses of per capita GNP (or GDP) as a measure of economic well-being. Although this measure has the flaws you just listed (and others) it is the most oft-referenced
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of how rational decision making entails comparing the marginal benefits and the marginal costs of an action. a. Illustrate by means of a production possibilities curve the trade-offs between two options. b. Explain that rational decisions occur when the marginal benefits of an action equal or exceed the marginal costs. SSEF3 The student will explain how specialization and voluntary exchange between buyers and sellers increase the satisfaction of both parties. a. Give examples of how individuals
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E-commerce and Economic Development (A Study Sponsored by the South Asia Network of Economic Research Institutes) Mahesh C Purohit Vishnu Kanta Purohit Foundation for Public Economics and Policy Research 133‚ SFS‚ Ashok Vihar-IV New Delhi-110052 Phone: 27463008; 27427758 Fax: 27142802 e-mail: director@fpepr.org website : www.fpepr.org 1 E-commerce and Economic Development (A Study Sponsored by the South Asia Network of Economic Research Institutes) Mahesh C Purohit Vishnu Kanta
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Economics The economics course provides students with a basic foundation in the field of economics. The course has five sections: fundamental concepts‚ microeconomics‚ macroeconomics‚ international economics‚ and personal finance. In each area‚ students are introduced to major concepts and themes concerning that aspect of economics. Fundamental Economic Concepts SSEF1 The student will explain why limited productive resources and unlimited wants result in scarcity‚ opportunity
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ENGINEERING ECONOMICS ASSIGNMENT 1 ECONOMIC DEVELOPMENT AND ITS IMPACT ON SCIENCE Ananthtejas R 09CO12 Economic development Economic development is a broad term that generally refers to the sustained‚ concerted effort of policymakers and community to promote the standard of living and economic health in a specific area. Such effort can involve multiple areas including development of human capital‚ critical infrastructure‚ regional competitiveness‚ environmental sustainability‚ social inclusion
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How successful were the economic‚ social and political policies of the Tsar’s government from 1894-1914? In 1894‚ Nicholas II ascended to the throne following the death of his father‚ Alexander III. Woefully unprepared for such a role‚ Nicholas II has been characterized as a naive and incompetent leader. At a time of enormous social and political change in Russia‚ Nicholas held fast to the outdated‚ autocratic policies and opposed reform of any kind. His inept handling of the military matters and
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QUESTION 1 What are the THREE (3) basic economic questions that all economies must answer? Describe the differences in the way capitalism and socialism answer these questions. Scarcity‚ Choices‚ Opportunity Costs We live in a finite world. No matter how seemingly bountiful the quantity of our natural resources may be or how carefully human try to conserve them‚ if we keep using them‚ they eventually are going to run out. Our tastes for goods and services are virtually limitless and this creates
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Culture: a vehicle for economic development Cultural industries: Culture is a powerful global economic engine generating jobs and income with a value of US $1.3 trillion in 2005. Global cultural industries account for more than 7% g global GDP During the 1990s‚ the cultural industries grew at an annual rate twice that of service industries and four times that of manufacturing in OECD countries (2009 UWR). However‚ infrastructure investments are needed in the South to enhance and support cultural
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What are the pros and cons of regional economic integration? Regional economic integration is the agreements among countries in a geographic region to reduce/remove tariff & non-tariff barriers to the free flow of goods‚ services & factors of production with each other. The pros-- By connecting economies and making them gradually more dependent on each other creates motivation for political cooperation and decreases the possibility for violent conflict By classifying economies‚ countries
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streets and litter spotted throughout public areas may come to mind. However‚ with the modernization and industrialization China has gone through‚ urban citizens are now more frequently using public transport‚ automobiles are increasingly being used more and people are hired to keep streets as clean as possible. With a little over three decades having past since the major industrial development‚ China has industrialized at an astonishing rate. This is especially apparent when comparing its much higher
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