China is classified as a developing country. Recently, contributions to its Gross Domestic Product (GDP) were agriculture 10%, construction 13%, manufacturing 32% and services 45%. Which contribution to GDP usually decreases first when countries move to a higher level of development?

Why may GDP not be a good measure to compare the standard of living of two countries?

What is likely to happen as a developing country becomes more developed?

Many developed countries are faced with an ageing population. What is the likely result of this?

A power station was built to provide electricity to rural villages in Namibia. What was its opportunity cost?

What is most likely to reduce the supply of factors of production in an economy?

The government of a developed country subsidises local private businesses, and encourages large foreign companies to …