DUALISM AND ECONOMIC UNDERDEVELOPMENT

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DUALISM AND ECONOMIC UNDERDEVELOPMENT Dualism is a major characteristic of an under developed economy, Dualism refers to that condition of a country when two sectors (i.e., advanced or modernizer sector and the backward or traditional sector) exist side by side. For instance, we have modern industries and the old cottage industries working side by side as well as modem fanning and […]

CHARACTERISTICS OF Under Developed ECONOMIES COUNTRIES (UDCs)

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CHARACTERISTICS OF Under Developed ECONOMIES COUNTRIES (UDCs) The general nature of an under-developed economy may be gathered from the common economic characteristics of such an economy. It may be too much to talk of common economic characteristics of underdeveloped countries in view of the wide diversity among under-developed countries, as revealed by the numerous case-studies that have been made. While it would […]

DETERMINANTS OF ECONOMIC GROWTH

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 DETERMINANTS OF ECONOMIC GROWTH We have said that economic development means  the transformation from low  income t’l high income  society. Let us see now the conditions which facilitate this   transformation and maintain a sustained and steady rate of growth. Tile process of   economic Developmental is a highly complex phenomenon and is  influenced by   numerous and varied […]

Definition of all Under Developed Economy

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Definition of all Under Developed Economy It is not easy to define an under-developed economy. According to the United Nations experts, an under-developed country is one “in which per capital real income is low when compared with the per capital real incomes of the U.S.A., Canada. Australia and Western Europe. This definition. though it focuses attention on a very important characteristic I)f […]

ECONOMIC DEVELOPMENT

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ECONOMIC DEVELOPMENT Meaning economic development or economic progress has been defined in two ways  According to one definition economic growth means growth of national income  of  he country. In other words it implies an increase in the net national product  in a  given period. say a year Some economists consider this definition as inadequate  and unsatisfactory. […]

ECONOMIC UNDER DEVELOPMENT

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ECONOMIC UNDER DEVELOPMENT We now pass from statics of comparative statics to dynamic anal) sis. In static analysis, for example, we discuss how equilibrium price is determined when the demand and supply curves are known and remain unchanged. Static analysis helps us to an analyse a situation where consumers, producing firms, industries etc., are in stable or static equilibrium […]