Economy: you should provide an account of your short-term and long-term economic modes of production, consumption, and exchange systems used in your society; including details on labour/gender relations, land management, shelter, etc.
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- The economy of Ghana is made up of three sectors namely: Agriculture, Industry and Services. These three sectors contribute to the national output. For decades, prior to the 2000s, the Agricultural sector contributed the most to the national output. Sadly, in recent years however, the sector has been the least contributor to national output. Trends in production of major food crops such as maize, rice and sorghum show that on-farm productivity has stagnated and the exploitable difference between the actual and the potential output of most of the crops (yield gap) has widened. Low and inadequate levels of usage of productivity enhancing technologies such as quality seeds of improved varieties and fertilizer, inadequate extension services and weak market linkages contribute to the poor agricultural performance. It was against this background that the NPP-led government implemented one of her flagship programmes “Planting for Food and Jobs”. The programme is primarily aimed at making…1. Explain insightful interpretations of the data, connecting it to the broader context of the issue on global economic issue under world hunger and poverty at Nigeria country with latest news.19. In a particular market there are social costs that are greater than private costs What type of failure is this market experiencing ? Market imperfection Public goods Externalities Economics of scale 25. Which of the following is a main route by which developing countries have sought to obtain the benefits of industrialisation? Export substitution Import-led grotwh Import sustitution Protectionism
- Discuss the relevance of the history of economic thought to either: (a) selected current Caribbean economic issue(s) or (b) selected current global economic issue(s).The economy of Ghana is made up of three sectors namely Agriculture, Industrial and Services. These three sectors contribute to the national output. For decades prior to the 2000s, the Agriculture sector contributed the most to the national output. Sadly, in recent years however, the sector has been the least contributor. Trends in production of major food crops such as maize, rice and sorghum show that on-farm productivity has stagnated and the exploitable difference between the actual and the potential output of most of the crops (yield gap) has widened. Low and inadequate levels of usage of productivity enhancing technologies such as quality seeds of improved varieties and fertilizer, thin extension services and weak market linkages contributes to the poor agriculture performance. It was against this background that the NPP led government implemented one of their flagship programmes “Planting for Food and Jobs”. The programme is primarily aimed at making subsidized improved seeds…Question 1Using a production possibilities frontier (PPF) diagram, determine how does the PPF change in response to the following events: Make sure to explicitly indicate what sectors you are representing, and what sort of assumptions each event implies (i.e., a neutral effect vs a sector-biased effect). The latter follows from your assumptions on the factor intensity of the sector you are representing. a) Increasing skilled migration into the countryb) Imposing taxes on manufacturing (hint: define a two-sector producing economy, manufacturing and services).c) Decreasing the expenditure on research and developmentd) Implementation of easier rules for foreign investmente) The effects of a pandemic Question 2 Identify what sort of effects the following listed events have. You are required to define the market under study (for example: the labour market, oil market, etc). Explain whether the event acts on the demand or supply side, and whether the event leads to a quantity or…
- 24. Production possibility curves can be used to illustrate scarcity, trade-offs, opportunity costs, technological advances and economic growth. Group of answer choices A. True B. FalseCapital is --- in three sector model factor payment factor input factor output Money supplyThe economy of Ghana is made up of three sectors namely Agriculture, Industry andServices. These three sectors contribute to the national output. For decades prior to the2000s, the Agricultural sector contributed the most to the national output. Sadly, inrecent years however, the sector has been the least contributor to national output.Trends in production of major food crops such as maize, rice and sorghum show thaton-farm productivity has stagnated and the exploitable difference between the actualand the potential output of most of the crops (yield gap) has widened. Low andinadequate levels of usage of productivity enhancing technologies such as quality seedsof improved varieties and fertilizer, thin extension services and weak market linkagescontributes to the poor agricultural performance. It was against this background thatthe NPP-led government implemented one of her flagship programmes “Planting for Food and Jobs”.The programme is primarily aimed at making subsidized improved…
- Economic Scenario: Country A has one of the highest real GDP while Country B has one of thehighest real GDP per capita in the world respectively. a.what are the (3) comparative differences between real GDP and real GDP per capita. b.What does this tell us, about the well-being of the residents of Country A and B?Question 5: Trade Policy in Newly Industrialized/Developing CountriesInfant Industry protection is a key solution for the growth of industrialization of developing countries. Discuss answer by using the graph below and any other graph(s) that you can deem appropriate.Economic growth and the prosperity of nations depends upon their access to energy. Without an assured supply of energy production is not possible. Fossil fuels have served as sources of energy for decades. However, in recent years some disadvantages associated with the use of fossil fuels has become obvious. Which of the below IS NOT and HAS NOT BEEN one of the drawbacks of using fossil fuels for the production of goods? Group of answer choices Fossil fuels produce less energy than the non-traditional sources of energy and thus are inefficient. Fossil fuels are associated with environmental damage and possibly even global warming. Fossil fuels are finite, and some day they will run out. Economies that possess fossil fuels such as oil and coal can control supply of these and hike up their prices, and thus deny access to these resources to some countries for political purposes.