Economic Growth and Development (IEcoS (Economic Services) Economics Paper-2): Questions 1 - 9 of 35

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Question number: 1

» Economic Growth and Development » Concepts of Economic Growth and Development and Their Measurement

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Appeared in Year: 2018

Essay Question▾

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Why do firms wish to grow? Is there a case for small firms to continue to remain small?

Explanation

Firms seek to grow in size by increasing sales and enhancing market share. This can be achieved through

  • Internal expansion

  • external growth

  • Diversification into related industries.

Image shows The motives for increasing in size

Image Shows the Motives for Increasing in Size

Image shows The motives for increasing in size

  • The motives for increasing in size can include:

    • Incr

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Question number: 2

» Economic Growth and Development » Human Development Index

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Appeared in Year: 2018

Essay Question▾

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Discuss the importance of inequality adjusted human development index (IHDI) and gender inequality index (GII) in connection with the status of overall HDI.

Explanation

  • The Human Development Index (HDI) measures the average achievements in a country in three basic dimensions of human development: a long and healthy life, access to knowledge and a decent standard of living.

  • The Inequality-adjusted Human Development Index (IHDI) adjusts the Human Development Index (HDI) for inequality in distribution of each

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Question number: 3

» Economic Growth and Development » Theories of Economic Development

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Appeared in Year: 2018

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Discuss W. W. Rostow’s stages theory of economic development.

Explanation

Professor W. W. Rostow has sought an historical approach to the process of economic development. He refers to five stages of economic growth:

Image of the Rostows MOdel of Development

Image of the Rostow’S MOdel of Development

Image of the Rostow’s MOdel of Development

  • Traditional society: According to him, the structure of the traditional society was based on primitive technology a

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Question number: 4

» Economic Growth and Development » Concepts of Economic Growth and Development and Their Measurement

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Appeared in Year: 2018

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Explain the role of banks and stock markets in economic growth.

Explanation

  • Role of banks: Banks play an important role in the growth of the economy. It helps the people to save their deposits and lend to the people who are in need of loans for various purposes.

    The banks perform a very significant function of credit creation in the economy. This way, it helps to circulate the money into the economy.

  • Banks promot

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Question number: 5

» Economic Growth and Development » Theories of Growth » Classical Approach Adam Smith, Marx and Schumpeter

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Appeared in Year: 2018

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Explain the basic features of Kaldor’s model of growth and distribution.

Explanation

  • The Kaldor model follows the Harrodian dynamic model and Keynesian techniques of analysis. The other neo-classical economists treat the technology as exogenous but he provides a framework for relating the genesis of technical progress to capital accumulation.

  • The short-period supply of aggregate goods and services is inelastic and irrespons

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Question number: 6

» Economic Growth and Development » Concepts of Economic Growth and Development and Their Measurement

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Appeared in Year: 2018

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Discuss Poverty-Inequality-Growth triangle in the process of sustainable economic development.

Explanation

Poverty is defined as the proportion of population living below the poverty line. Inequality refers to the disparities among the whole population in terms of income and wealth.

Growth refers to the percentage change in mean welfare of a household.

Image of the Development Strategy

Image of the Development Strategy

Image of the Development Strategy

  • The above figure shows t

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Question number: 7

» Economic Growth and Development » Concepts of Economic Growth and Development and Their Measurement

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Appeared in Year: 2011

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Examine the impact of policies of liberalization, privatization and globalization on poverty and inequality.

Explanation

India embarked on big-bang economic reforms 25 years back in 1991. It is well-known that GDP growth has been much higher in the post-reform period.

  • However, GDP is only one metric. Ultimately, the success of reforms depends on whether the well-being of people, particularly that of poor, increased over time.

  • In this context, let’s examine

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Question number: 8

» Economic Growth and Development » Concepts of Economic Growth and Development and Their Measurement

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Appeared in Year: 2011

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Write a brief note on the doctrine of ‘big push’ in the theory of economic development.

Explanation

The theory of the big push is associated with the name of Professor Paul N. Rosenstein Rodan.

  • The thesis is that a big push or a large comprehensive programme is needed in the form of a high minimum amount investment to overcome the obstacles to development in an under developed economy and to launch it on the path to progress.

  • The theory

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Question number: 9

» Economic Growth and Development » Concepts of Economic Growth and Development and Their Measurement

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Appeared in Year: 2011

Essay Question▾

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State and comment on the applicability of Say’s Law.

Explanation

Image of the Assumption of Says Law of Market

Image of the Assumption of Say’S Law of Market

Image of the Assumption of Say’s Law of Market

Say’s Law states that ‘Supply creates its own demand’. In a barter economy, a good produced with a purpose of exchanging it for another good.

  • Thus, additional supply represents additional demand. In a money economy, money serves as medium of exchan

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