To what extent can the Porters Theory of Competitive Advantage be used to explain fully or partial growth in the Caribbean region and how is in line with the models of economic development put forward by Best and Lewis.
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To what extent can the Porters Theory of Competitive Advantage be used to explain fully or partial growth in the Caribbean region and how is in line with the models of economic development put forward by Best and Lewis.
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- Romer’s (1986, 1990) approach to endogenous growth laid out a model which appeared to show that there were increasing returns to scale from technology and the accrual of savings to this technology. At a firm level, this seemed to imply that monopolies within a country would emerge. However, in reality, this is not the case. What is the reason that competition still survives in endogenous growth models (and, by extension, in reality)?Review Porter’s Theory of Competitive Advantage and assess the extent to which the model canbe used to explain (fully or partially) growth and development in the Caribbean region. Howinline is the model with the views of economic development put forward by Best and Lewis? Limit answer to 200 wordsA large part of China's growth was due to export-led investment. They used the country's centralized authority to coordinate investments across industries. As more producers located in China, the greater the benefits were for other suppliers to operate there. What economic growth model is this statement consistent with? Lewis two-sector model The Big Push Kremer's O-Ring Theory Neocolonial Dependence Model
- Ricardo’s economic growth model can be recognized as an endogenous model. True or FalseWhat is meant by complete specialization? By incomplete specialization? Under the Ricardian model, why are both nations likely to gain from trade in the first instance but only the small nation in the second? (think in terms of the pre and post trade price ratios likely to prevail in each case)Provide an explanation an economist might give showing why each statement is true: - Entrepreneurs are important to the production of goods and services
- Economic growth is represented on a production possibilities frontier model by the production possibilities frontier shifting outward. shifting inward. becoming steeper. becoming flatter.Determine 10 trends/factors that affect the future power growth of a country.Using the ideas of Andre Gunder Franks’ Dependency theory and that of David Slater’s spatial theory of underdevelopment in Africa, explain how globalisation promotes or constraints the development process in sub-Saharan Africa
- The von Thünen model tells us that the pattern of farm land use: varies with distance from market. is essentially uniform in highly competitive economies. is conditioned by culture and is different in the Southern and Northern hemispheres. follows the law of competitive development.Explain how Marx's principle may or may not apply to today: - capitalism survives by exploiting the workers