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The table below shows the Gross Domestic Product (GDP) of a country X in the year 2014 to 2018

      

The table below shows the Gross Domestic Product (GDP) of a country X in the year 2014 to 2018

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a)Explain five factors that may have caused the above trend.

b) Explain five causes of demand pull inflation

  

Answers


Martin
a)
-Increase in the size of the population that is in gainful employment and the labour supply in the country /increased quality of labour
- Improved political stability in the country which in turn attracts both local and foreign investors to engage in business activities

- Increased exploitation of the available natural resources such as mineral deposits, forests, water, beaches and climate

- Improved levels of technology used in the production of goods and services which leads to increased output and improved quality

- Increased entrepreneurial ability of the citizens which enable them to organize other factors of production in appropriate proportions leading to creation of more employment opportunities

- Increase in the amount and quality of capital from simple tools to very advanced equipment used in the production.

- Positive change of attitude of the citizens towards work

- Increased foreign direct investments leading to increased production.
marto answered the question on September 25, 2019 at 10:34


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