Development Economics ECN4169 L, Madumarov Eldar

…a method for evaluating the profitability of alternative uses of resources.

…explanation of economic development that focuses on discovering, expanding, and creating new markets; forming new businesses; nurturing indigenous re-sources; and involving government in the economy.

…industrial park designed to encourage business interaction in ways that foster the reuse of waste streams, the recycling of inputs, and other mechanisms.

…a qualitative method for analyzing the impact of a proposed action on the economy. A model permits testing the effects of an anticipated or hypothetical change.

…a method of classifying all productive activity into two categories: basic industries which produce and sell goods that bring in new income from outside the area and service industries which produce and sell goods that simply circulate exiting income in the area.

…a comprehensive study of a locality’s economy, focusing on the importance of exports. It should include an economic history, data on existing industries, trends, and forecasts of growth in wages and employment.

…the phenomenon of production where the average cost of production declines as more of the product is produced.