The World Bank's Focus on Large Projects Rather Than Local

question 79

Essay

The World Bank's focus on large projects rather than local initiatives has had a negative impact on the social and environmental front.Explain with an example.

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Definitions:

Variable Cost

Costs that change in proportion to the activity of a business, such as materials and labor costs.

Total Cost

The complete cost of production that includes both fixed and variable costs.

Fixed Cost

Expenses that do not change in the short term, irrespective of the level of production or sales volume.

Average Total Cost

The total cost of production divided by the number of units produced, calculating the per-unit cost to produce goods or services.