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Economic Development
The word development is from the Latin root ‘Voloper’ which meant wrap up, envelop. The English used this word along with ‘des’ meaning ‘undo’. The word used was ‘disvelop’. The French replaced this word in 1656 with ‘develop’ which meant unfold or unwrap. The act of unwrapping may also be interpreted to mean expanding, diversifying, redistributing the contents. The popularity of the term development began with decolonialisation.
Going through several conceptual metamorphosis through the decades, currently development is taken to mean economic growth that is contributed by a large cross-section of the population which in turn would also mean large scale employment, increasing incomes and a resultant appreciation in the quality of life of the people. The distributional effects of growth [i.e. ‘growth with and through justice’ policy or the ‘equality in growth’ dimension] are incorporated in the current conception of development.
There are different reasons for state trading. Important reasons are given below. (i) State may directly buy the goods required by the various government departments and agencie
Limitations of the Services Sector: The services sector in India, as at present, suffers from low productivity and low quality in spite of fairly large investment in technolog
describe scitovosky''s double criterion
Q. Definition of labour force? Labour Force:Total population of working-age people who are willing and able to work and who thus have ‘entered' labour market. Labour force incl
Cost Sharing in Higher Education - Increasing the Fees A commonly suggested cost recovery method is to increase the fees charged for the courses in higher education. The share
The following are AC and TC functions for various firms (i). AC = 140/Q + 20 (ii) AC - a/Q = k (iii) TC - 10 =2Q + 0.1Q 2 (iv) TC - k - βQ = cQ 2 Where a, k, β and
Distinguish between interventionist and market-led strategies of development. Explanation of interventionist strategy; heavy government involvement in the planning of output, p
Industrial Policy: Government policies which are aimed at fostering the domestic development of particular desirable or productive industries, in order to enhance productivity, cre
FOREIGN TRADE: Interdependence between the economies of the world has increased multifold. External sector in the economy has gained primeimportance. Both exports and imports
Suppose a government uses an expansionary fiscal policy to get out of a recession. Use the IS/LM model and the IS-PC-MR model to explain what monetary policy to pursue.
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