Economic Growth and Development-Concepts of Economic Growth and Development and Their Measurement (IEcoS (Economic Services) Economics Paper-2): Questions 1 - 9 of 12

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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 » 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: 3

» 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: 4

» 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: 5

» 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: 6

» 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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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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Question number: 7

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

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Appeared in Year: 2016

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“The need for balanced growth rests on the need for a balanced diet”-Nurkse. Explain this statement.

Explanation

  • Nurkse idea of balanced growth explains that a synchronized application of capital to a wide range of industries is necessary for the enlargement of market and for breaking the vicious circle of poverty in an underdeveloped country.

    • This idea rests on the balance in demand approach. He does not neglect the supply side of balanced growth.

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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: 2017

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When it is more effective to pursue a Hirschamanian strategy compared to Nurksian balanced growth model approach? Discuss after explaining the essence of both the models.

Explanation

  • Nurkse idea of balanced growth explains that a synchronized application of capital to a wide range of industries is necessary for the enlargement of market and for breaking the vicious circle of poverty in an underdeveloped country.

    • This idea rests on the balance in demand approach. He does not neglect the supply side of balanced growth.

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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: 2016

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What is GDP deflator? How is it used to measure inflation?

Explanation

The GDP deflator is the ratio of the value of goods and services an economy produces in a particular year at current prices to that of prices that prevailed during the base year. It is calculated as:

  • Nominal GDP is the market value of goods a

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