What are the economies according to the stages of development

Q: Describe how global aging and declining population affect economic growth, living standards, and the…

A: The world's population is getting older at an unprecedented rate. With a fast diminishing…

Q: What are the important factors of Economic Development?

A: There are mainly eight important factors of economic development.

Q: Why is the world growing so rapidly?

A: A distinct group of individuals belonging to a certain group or nation is referred to as a…

Q: "re-development"

A: Redevelopment is defined as a process where a land which was already utilized for some development…

Q: Explain the term economic development and how is economic development measured?

A: As wants and desires of the individuals in the economy are unlimited but resources possessed by an…

Q: How does family close ties affect economic development?

A: The extended family system is referred to as "close family ties." It's a family system in which…

Q: How does the economy grow up without development? – Explain.

A: Economic and social development is the process by which a nation, region, local community, or…

Q: Why is productivity important for the economy?

A: Productivity refers to the ratio of quantity of output to quantity of inputs. It describes how…

Q: What is the role of education and training in the pursuit of economic prosperity?

A: Education is a strong reform driver, enhancing well-being and livelihoods, leading to social…

Q: What are four public policies that can facilitate economic growth in a economy?

A: Using public policy wisely helps to increase the economic growth of a country.

Q: How and why did the changes in labor productivity, the emergence of key markets (land, labor etc.),…

A: Labour productivity emerged as the key market because it is the labour productivity on which the…

Q: As explained by the economists, economic development and economic growth are the same. TRUE OR…

A: When comparing one period to the next, economic growth is defined as a rise in the production of…

Q: Can economic growth and productivity align with our core values?

A: Economic growth and productivity are very important for the development of an economy. Core values…

Q: What are the major economic systems?

A: An economic system is the combination of different government plans and allocation of the resources…

Q: Explain why economic growth leads to lower death rates and better health?

A: Economic growth is positively related to HDI index which is a measure of health, education and…

Q: Define global economy?

A: Globalisation can be described as the process by which countries have become more interconnected.…

Q: Imagine a graph showing production possibilities. What does an outward shift of the production…

A: The PPC (production possibility curve) demonstrates the trade-off faced by the economy producing two…

Q: Would you expect the relative returns to primary education, on the one hand, and secondary and…

A: In an economy, it can be seen that primary education is mandatory for all people, while higher…

Q: at is the third and fourth socio-economic system

A: A socio-economic system based on the private ownership of the means of production and a free…

Q: What are the barriers to development? If development is so difficult, why do nations undertake it?

A: The development is the condition when there would be an increase in income and the per capita income…

Q: What are economic institutions, and how do they shape problems of underdevelopment and prospects for…

A: The production, distribution, exchange, and consumption of products and services are all organised…

Q: Explain the topic Theory of socio-economic development by Joseph Schumpeter

A: The socio-economic factors are the employment, income, gross domestic product, literacy rate and…

Q: The great 18th-century economist Adam Smith wrote, "Little else is requisite to carry a state to the…

A: Adam Smith states that peace, easy taxes and a tolerable administration of justice are the three…

Q: Which economic system do you think is better in answering the following basic economic questions: a.…

A: An economic system is a method by which social orders or governments distribute and organize…

Q: What are the phases of economic development? Why is it important to understand the specific steps…

A: Economic development is a series of incremental improvements. The business climate of a country…

Q: What are our nation’s major macroeconomic goals? Are they in conflict with each other?

A: Economics is a social science which deals with human behavior on choices that make with scarcity.…

Q: How can growth and development affect the country’s economy?

A: Economic growth is defined as a rise in the market value of goods and services generated in the…

Q: Is the system of economic interdependence (free trade, globalization, etc.) the best model to follow…

A: Economic interdependence is the concept of one economy depends on the other economy that influences…

Q: How might inequality lead to faster growth or development? How might it lead to slower growth or…

A: The rise in inequality levels leads to transferring of income to higher-saving households being at…

Q: What is economic development? Explain its nature and importance.

A: Economic growth can be defined as an increase in output through increase in factors of production…

Q: correlation between culture and development

A: Culture is a way of life practised as a daily routine.

Q: compare and contrast the stages of Economic Development by Renee O’Farrel and Dr. Roger Allen

A: Economic development refers to a rise in the wealth of a nation that give rise to a better standard…

Q: What is the difference between economic growth and economic development? Give one example in each..

A: Growth and development are two different terms. Growth is a relatively smaller concept than…

Q: economy not achieve multiple economic goals simultaneously?

A: Basic features of an economy are - 1) resources our scarce or limited  2) while wants are unlimited…

Q: How does geography impact economic development??

A: Geographical factors include the level of natural resources in a nation and hence can influence the…

Q: Explain how the economic principles guides economic growth and productivity?

A: According to the given question Simply we can say that economic growth actually refer to a rise in…

Q: Explain with examples various economic systems exist in the world.  Oman following which economic…

A: There are three basic economic structures followed across the world:   capitalist economic…

Q: What are the three main sources for economic growth in any economy?

A: Economic growth is an increase in aggregate production in the economy. It is measured by computing…

Q: WHAT IS THE IMPORTANCE OF ECONOMIC GROWTH?

A: Economic growth indicates that a country's limited resources are being used more efficiently. It is…

Q: What are the roles of economic institutions in global economy? Do these organizations have…

A: Institutions have a significant impact on a country's economic development and act at all levels of…

Q: what do you mean by sustainable development? explain and citing examples

A: SDGs, also known as the Global Goals, were adopted by the United Nations in 2015 as a worldwide call…

Q: what is economic development and economic growth?

A: Economic development and economic growth are used interchangeably, but both terms are different in…

Q: How can humanity possibly find a balance between economic growth and social justice

A: Social justice is an essential and irreplaceable component of social economic development.Reforms…

Q: State what is the difference between economic growth and economic development??

A: A rise in the production of products and services in an economy is referred to as economic growth.…

Q: Using the Venn Diagram, compare and contrast the stages of Economic Development by Renee O’Farrel…

A: During an organisation's growth, even the most well-intentioned firms have times of upheaval. In…