Define Economic shortage. Economic shortage synonyms, Economic shortage pronunciation, Economic shortage translation, English dictionary definition of Economic shortage. n. A deficiency in amount; an insufficiency. American Heritage® Dictionary of the
Define economic science. economic science synonyms, economic science pronunciation, economic science translation, English dictionary definition of economic science. Noun 1. economic science - the branch of social science that deals with the production an
First, there are the theories that regard the shortage of some strategic input (such as the supply of savings, foreign exchange, or technical skills) as the main cause of underdevelopment. Once this missing component was supplied—say, by external economic aid—it was believed that economic deve...
Related to the belief in market failure and in the necessity for government intervention was the view that the efficiency of the price mechanism in developing countries was very small. This was reflected in the view of foreign-exchange shortage, already discussed, in which it was thought that th...
Learn the definition of economic loss. Discover the difference between pure economic loss and consequential economic loss with explanations and...
1954-Lewis:Economic development with unlimited supply of labor W.A.Lewis on Development with Unlimited Supplies of Labor 1 Space for Notes W.A. Lewis, ↓ “Economic Development with Unlimited Supplies of Labour”* (1954) 1. This essay is written in the classical tradition, making the classical...
Answer:Economic equilibrium is essential for proper resource allocation, price stability, and to achieve market equilibrium. It prevents shortage and surplus of quantity and ensures that consumers get the products at reasonable prices. It also encourages businesses to produce new innovative products to ...
The definition of recession is somewhat arbitrary and has its roots, the ONS says, in the work of US Presidential speech writers of the 1960s, but it is widely accepted and matters to the economic and political discourse. Interest rate impact ...
Define Economic sector. Economic sector synonyms, Economic sector pronunciation, Economic sector translation, English dictionary definition of Economic sector. n. pl. e·con·o·mies 1. a. Careful, thrifty management of resources, such as money, material
Define Economic statism. Economic statism synonyms, Economic statism pronunciation, Economic statism translation, English dictionary definition of Economic statism. n another name for command economy Collins English Dictionary – Complete and Unabridged,