CASE STUDY;Different countries use different currencies and the exchange rate may not accurately reflect the internal purchasingpower of agivencurrency.In addition, exchange rates in many countries fluctuate considerably especially since floating exchange rate systems are widely used.

(ii) Differentcountries have different definitions of what is to be included in national income and comparisons should take into account these different definitions.For example, many developed countries exclude the subsistence sector in their measurement of national income but to do so in developing countries would significantly undervalue their national incomes.

(iii) Even though income per capita may be similar among different countries, standards of living may differ considerably because of substantial differences in income distribution.A high national income may, for example, not be well distributed among the population of a given country.

(iv). Different countries have different needs and tastes and so commodities that are valuable in one country may not be valuable in another country.For example, northern countries spend considerably higher sums of money on heating which is unnecessary in tropical countries.

(v) An increase in national income may have come about because of longer working hours or inferior working conditions which may be associated with a decline in the standard of living.

QUESTIONS

1.when referring to delegated legislation, explain the Sub-delegation and abuse of power as a disadvantageto the so mentioned topic

2.the Parliament has put in place various mechanisms in its attempt to control or contain delegated legislation: enumerate some of them in a detailed form

3.elaborate on the concept of judicial control in the criterion of delegated legislation

4.in the nature of theSubstantive Ultra Vires; when do we render a party to have satisfied that?(3 points)

5.in the business law contracts for goods and damages, explain the application of theProcedural Ultra Vires

6.a description of the origin and advancements of common law is required

7.explain the doctrine of stare decisis as a concept in business law applications

8.how is Procedural technicalities a short coming in common law?

9.what is the implication on the negative side of delays as far as common law in business law is discussed

10.how did the Non-recognition of trusts affect the evolvement of common law in the businesslaw arena?