What is the lewis model, Business Economics

Assignment Help:

What is the Lewis Model?

The Lewis Model argues economic growth needs structural change into the economy whereby surplus labour within traditional agricultural sector along with zero marginal product that migrate to the modern industrial sector where their each marginal product is more much higher.

Transferring surplus labour through rural to urban regions has no effect onto agricultural productivity like MP of rural employees = 0. Additional workers within urban areas raise output thus incomes and profits. Further incomes increase demand for domestic products when increased profits fund increased investment. Therefore rural urban migration gives self generating growth.


Related Discussions:- What is the lewis model

Social economic and non economic factor in development, What are the social...

What are the social economic factors and non economic factors in the development process? Development is a process including change into a number of social economic and non eco

Lecturer, 1. Three clients of Disrup, Ltd P, Q and R are direct competitors...

1. Three clients of Disrup, Ltd P, Q and R are direct competitors in the retail business. In the first week of the year P had 300 customers Q had 250 customers and R had 200 custom

What are implications of sustainability in economic growth, What are the im...

What are the implications of the sustainability in economic growth? Implications of the sustainability in economic growth: Moving in the direction of sustainable development

Analyze the characteristics of a monopoly market, QUESTION (a) Analyze ...

QUESTION (a) Analyze the characteristics of a monopoly market. (b) Distinguish between the short and long run equilibrium of a monopoly. (c) Compare and contrast between

What are rostowís policy implications, What are Rostowís policy implication...

What are Rostowís policy implications? • LDCs (Less Developed Countries) require aid. The development procedure can stall at the Take Off stage for be short of savings. 15

Test marketing, explain ththe test marketing approaches followed by fmcg co...

explain ththe test marketing approaches followed by fmcg companys

Baumol''s, the basic assumption of the static model

the basic assumption of the static model

Calculate potential gross income, (a)  Assume that Purchase Price is equal ...

(a)  Assume that Purchase Price is equal to initial Market Value (b) Your Market Rent starts at the indicated level and increases by this factor for all of Year 2 and for each y

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd