Author: Mark Wilson

Definitions 1. Import Substitution Industrialization (ISI) Definition and Objectives: Key Features: Advantages and Disadvantages: 2. Export-Led Growth (ELG)

Definitions Measures of Development Development measures are diverse and reflect the multi-dimensional nature of progress within a country.

Definitions Causes and Consequences of Inequality Causes of High Inequality Consequences of High Inequality Measurements for Inequality: Gini

Definitions Absolute Advantage Definition: Key Points: Examples: Implications for Trade: Comparative Advantage Definition: Key Points: Examples: Calculating Comparative

Definitions Introduction to Currency Exchange Functions of the Foreign Exchange Market Types of Exchange Rate Systems Determinants of

Definitions Introduction to Free Trade Agreements Pros of Free Trade Agreements Economic Efficiency Consumer Benefits Trade Enhancement Economic

Definitions The Labour Market Overview Definition and Role: Demand for Labour: Supply of Labour: Wage Determination Wage Theories:

Definitions Oligopoly Definition: An oligopoly is a market structure characterized by a small number of firms that have

Definitions Monopolies Definition: Characteristics of a Monopoly: Sources of Monopoly Power: Monopoly Pricing and Output Decisions: Graph Analysis:

Definitions Economics of Scale Definition Economies of scale refer to the cost advantages that enterprises obtain due to