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Is an unequal distribution of income and wealth a problem? Explain in short. Yes: because specified no government intervention, which on very low incomes cannot afford necessar
In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
Define the implications of dependency problem. Implications of dependency problem: To escape exploitation, underdeveloped countries should gain political, economic and so
What are the predictions of Lewis? For Lewis, Harrod Domar is right to emphasise the task of savings and investment although structural change and a new industrial sector are
What is Unbalanced Growth theory? Unbalanced growth shares analysis along with balanced growth theorists which free markets cannot produce development. Planning of government
What is Economic development theory? Economic development theories and models seek to describe and predict how the: • Economies may develop or not over time in excess •
What are colonial background countries of the development process? A colony is a country controlled by other. Various European countries had extensive empires as: • Latin
What are the traditional, modern sectors and rural-urban migration? Rural-urban migration: Rural-urban migration is the movement of labour through the countryside to cities
what are the major socio economic problems of India which hamper the growth and development
At which of the stages in the tipical structure of a company is a business given an identity separate from its owners?
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