The economic development of a country is dependent on all of the following except promoting protectionist barriers. Hence, option D is correct.
What is Economic Development?
- Economic and social development is the process through which the economic well-being and quality of life of a country, region, local community, or an individual are enhanced in accordance with specific aims and objectives, according to the economics study of the public sector.
- Although the phrase has been widely used in the 20th and 21st centuries, the idea has been around in the West for much longer.
- The terms "Westernization," "industrialization," and "modernization" are also frequently used when referring to economic progress. Prior to the 1960s, economic development programs tended to place more of an emphasis on infrastructure and industrialization than on reducing poverty.
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Answer:
Sunk cost
Explanation:
-Incremental cost is the total cost of producing an additional unit.
-Sunk cost is a cost that has already been paid and that it is not possible to get it back.
-Out-of-pocket cost is a cost that requires a direct payment in the actual period.
-Opportunity cost is the cost of not receiving a benefit when you choose an alernative over another one.
-Period cost is a cost that is not associated with the production of goods.
According to this, the answer is that the $14 per unit is a sunk cost because the company has already spent that manufacturing the products and it is not able to recover that money.
C is correct answer ......
Answer: Sustainability
Explanation: Sustainability simply means continual existence regardless of domain or pillar. It explains the maintenance of economic, social and environmental resources to meet the demand and needs of the present industry or generation without jeopardizing or compromising the needs of future generation. The concept of sustainability looks beyond the present, it focuses on harmonizing the needs of present and future generation by encouraging decisions and policies that focuses beyond the present, rather considering the effects of present policies in decades to come. Common sustainability goals include reduction of carbon emission, shift to the use of renewable energy resources such as wind, hydro and solar, All in a bid to maintain a healthy ecosystem for present and more importantly future generation.
Answer:
2. If two investments have the same expected return, the investment with the greater risk is preferred.
Explanation:
The statement above is clearly incorrect. If two investment are expected to return the same amount of money to the investor, then, the investor will seek the investment that has a lower risk, because risk, as the meaning of the word implies, is a variable that may impede the realization of the return.
No rational economic agent or investor would choose the riskier investment in this situation.
