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reasons for development planningto maximize the utilization of economic resources the resources of any nation are not always enough for her use in
development plana development plan is a document which contains a policy framework and programme of development for a time period for a country it
vulnerability in international relationsdominance dependence and vulnerability in international relationsa greater volume of ghanarsquos exports
dependence on agricultural productiondependence on agricultural production and primary product for exports the external sector comprises imports and
low levels of productivity in addition to low standards of living developing countries are characterized by relatively low levels of labour
health and life expectancy in addition to struggling on low income many people in the developing nations fight a constant battle against malnutrition
low standards of living in developing nations general standards of living tend to be very low for the vast majority of the people these low standards
capital formation growth economists believe that accumulation of capital is one main source of growth of an economy emphasis is given to the
sources of economic growthhuman resources investment in human capital is considered as an important factor for economic growth this is done by
economic growth and economic developmenteconomic growth refers to an increase in real aggregate output real gdp reflected in increased real per
economic growtheconomic growth refers to an increase in real aggregate output real gdp reflected in increased real per capita income a country is
uses of balance of payments accountit removes the uncertainty associated with the flexible exchange rate regime and brings stabilityit also
balance of payments accountthe foreign exchange market is an organizational setting within which individuals business firms banks etc buy and sell
official reserve accountthis part of the balance of payments informs us about how the balance of both current and capital accounts taken together is
capital accountthe capital account deals with long and short-term capital movementthese capital movements are referred to as autonomous because they
balance of paymentit is an account that summarizes a countryrsquos total payments and total receipts from international economic transactions within
measures used to restrict international tradethese are taxes imposed on traded commodities as they cross national boarders these are two main types
protection against dumpingit could be looked at as the export of commodities priced below cost of production dumping is generally looked upon as an
protection of infant firmsinfant industries are those firms which are young the absence of economies of scale to them makes their unit cost of
gains from international tradeit leads to increased total world production of goods and services international trade based on comparative cost
international tradeinternational trade refers to the exchange of goods and services between countries goods sold to other countries are referred to
structural unemployment this is unemployment resulting from changes in the pattern of demand for goods and services or changes in technologythese
frictional and cyclical unemploymentfrictional unemploymentit refers to unemployment caused by changes in individual labour markets this is the type
types of unemploymentfrictional unemployment-it refers to unemployment caused by changes in individual labour marketsthis is the type of unemployment
unemploymentunemployment refers to a situation where people who are willing and able to work do not find jobs at the existing wage ratefor a person