Gross Domestic Product and Gross National Product: Gross Domestic Product is the sum total of the market values of all final goods and services produced in a country during a period of time say one year while Gross National Product is the money value of the output produced in a country by the nationals of that country
Welfare: economic development can also be measured I terms of economic welfare which is reflected in an increasing inflow of goods and services
Social indicators: the social indicators used in explaining the level of economic development in a country are education, level of employment, mortality rate and life expectancy
Dana05 answered the question on July 3, 2019 at 10:57
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Highlight the requirements for economic development to take place
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Highlight the requirements for economic development to take place
Date posted:
July 3, 2019
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What the objectives of economic development?
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What the objectives of economic development?
Date posted:
July 3, 2019
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Briefly explain any five differences between economic growth and economic development
(Solved)
Briefly explain any five differences between economic growth and economic development
Date posted:
July 3, 2019
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Briefly discuss the factors that determine economic development
(Solved)
Briefly discuss the factors that determine economic development
Date posted:
July 3, 2019
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Give the definition of economic development
(Solved)
Give the definition of economic development
Date posted:
July 3, 2019
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Differentiate between economic expansion and economic shrinking
(Solved)
Differentiate between economic expansion and economic shrinking
Date posted:
July 3, 2019
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Kenya is currently experiencing very high level of unemployment among the youth. Explain the causes of youth unemployment and discuss elaborately the policy measures that you...
(Solved)
Kenya is currently experiencing very high level of unemployment among the youth. Explain the causes of youth unemployment and discuss elaborately the policy measures that you would adopt or recommend to government policy makers so as to deal decisively with this problem
Date posted:
June 30, 2019
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Outline limitations of quantity theory of money
(Solved)
Outline limitations of quantity theory of money.
Date posted:
May 17, 2019
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Briefly outline Karl Marx's critique of the classical system and show why his prediction that the capitalist system was doomed to collapse did not materialize
(Solved)
Briefly outline Karl Marx's critique of the classical system and show why his prediction that the capitalist system was doomed to collapse did not materialize.
Date posted:
April 5, 2019
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Explain 5 constraints to demand and supply
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Explain 5 constraints to demand and supply.
Date posted:
March 20, 2019
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Explain the roles of parliament in budgetary process
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Explain the roles of parliament in budgetary process.
Date posted:
March 9, 2019
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List some effects of fiscal policy
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List some effects of fiscal policy.
Date posted:
March 8, 2019
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Explain the impact of trade protectionism
(Solved)
Explain the impact of trade protectionism.
Date posted:
February 27, 2019
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State and explain seven types of unemployment
(Solved)
State and explain seven types of unemployment
Date posted:
February 27, 2019
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Answers (1)
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Briefly explain the relationship between unemployment and inflation and which causes the other
(Solved)
Briefly explain the relationship between unemployment and inflation and which causes the other.
Date posted:
February 27, 2019
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Define the various types of externalities
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Define the various types of externalities.
Date posted:
February 25, 2019
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How do distortionary taxes cause market failure
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How do distortionary taxes cause market failure
Date posted:
February 25, 2019
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Non-excludability property of pure public goods brings about the free rider problem. Explain
(Solved)
Non-excludability property of pure public goods brings about the free rider problem. Explain
Date posted:
February 25, 2019
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What is a public good?
(Solved)
What is a public good?
Date posted:
February 25, 2019
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Due to lack of information the government imposes distortionary taxes. What are the effects of such taxes?
(Solved)
Due to lack of information the government imposes distortionary taxes. What are the effects of such taxes?
Date posted:
February 25, 2019
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Answers (1)