Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

This is not actually Macro & Micro The class is called Economics of Developing Countries - Essay Example

Comments (0) Cite this document
No: Date: University: Part 1 1. Development is an increase in GDP per capita. True. Economic efficiency or Economic growth is relating to increase in productivity. Economic growth derives from producing more goods and services by applying the similar inputs i.e…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER96.5% of users find it useful
This is not actually Macro & Micro The class is called Economics of Developing Countries
Read Text Preview

Extract of sample "This is not actually Macro & Micro The class is called Economics of Developing Countries"

Download file to see previous pages To achieve the desire to maintain standard of living, the country should focus on a) level of goods and services b) individuals purchase. The growth in population along with increase in economic growth, increase in GDP is not necessarily an indicator of improving standard of living based on per capita. The other factor, which may be taken into consideration, is the population growth, which has no match with the economic growth. The growth of population should match with the economic growth otherwise, it definitely defeats the very purpose of improvement of standard of living of the masses. A controversy prevails on the green revolution for sustainable improvement in the standard of living on the face of accelerated population growth. The Revolutionary period of industrialization in England, plays a vital role in increasing the per capita income by virtue of replacement of work force with the machines. If we look at the increased population of England during the era of 1700 to 1860 AD, we may find a lot about the major factors in increasing the production. The major factor of multiple production attributed to more production per worker combined with many more workers. 2. In developing countries, there may be both market failure and the government failure. True. The market failure depends on the failure of government in respect of manning the affairs of market. Unnecessary intervention by the concerned department of the government, will complex the issues. However, the government should take note of inefficient management in respect of allocation of goods and resources. Let the market forces manage the goods and resource in an efficient manner. Hence, the incumbent(s) of government should keep him/themselves away from intervening unnecessarily to ensure smooth function. 3. Transactions and information costs can prevent effective markets in developing countries especially in agriculture. True. The transaction cost provides a base in the design and impact of ICT, which has a far-reaching effect in the field of agriculture. The information system relied upon transaction costs approach. ICT can be used to cater the requirement of sustainable information thus empowers the information management. In taking the economic exchanges, ICT is an efficient tool for the transactional efficiency. There cannot be two opinions about the impact of ICT in managing the economic exchanges on a positive note. 4. Famine is more a problem of distribution than supply. False. At the time of famine, Government of Bengal’s strategy in line with Sen.’s philosophy was laudable. Well known Indian economist Sen., a noble laureate in Economic Science was keen in resolving the problems of down trodden. He was famous for his work on the causes of famine that provides practical solutions to prevent and limit the worst impact of shortages of food. Inability is to purchase food by the poor caused starvation. The starvation has nothing to do merely with distribution and supply system only. Price control committee can control price to make it accessible to the general consumers and to prevent other market players to skim off more than their fare share. Further, public welfare scheme and supply of food through public distribution channel can play an effective role to lessen the gravity of famine. In addition, some degree of rationing under the mentioned scenario was desirable. Speculation and hoarding were two main factors of the famine. To provide population, the ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
(“This is not actually Macro & Micro The class is called Economics of Essay”, n.d.)
This is not actually Macro & Micro The class is called Economics of Essay. Retrieved from
(This Is Not Actually Macro & Micro The Class Is Called Economics of Essay)
This Is Not Actually Macro & Micro The Class Is Called Economics of Essay.
“This Is Not Actually Macro & Micro The Class Is Called Economics of Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF This is not actually Macro & Micro The class is called Economics of Developing Countries

International Business Economics

According to Adam Smith, the absolute advantage would be realised as long as the cost of production differed from between countries, one or both countries would gain by trading. An example to illustrate this is a situation where we have two countries A and B which produce two similar goods X and Y. The figures show labour cost in hours for producing one unit of a good

David Ricardo formulated the theory of comparative advantage and argued that even if one country is more productive in both lines of production it would be still profitable to trade. Country A is more productive in both lines of production but it will still be profitable to trade with country B, this is shown by first stating that country A is more advanta...
6 Pages (1500 words) Assignment

Marx and Engels on the Labour Process and Class Relations

Furthermore, Marxism states that as people may be divided into classes, where one class may hold influence over the other, the solution to economic and social harmony is to develop sympathy for humanity as a whole to support the working class. The main structure of the theory revolves around the betterment of the working class through their liberation and clarification of a purpose and cause. Human nature has always been a complex topic to discuss and to integrate the understanding of human nature with socialism has been harder (Lassman, 2000).

It may have been argued that since people, in general, are greedy and as a natural instinct are ambitious- they may always want a bigger share of the scarce resources and try to...
9 Pages (2250 words) Term Paper

Economics or Ethics

Several CEOs in America have in coalition with top managers deviated from the norms of corporate governance and caused immeasurable woes to the stakeholders. Using their power and ego they chased the wealth for personal gains without any concern for the shareholders or other stakeholders of the company. Enron, the world’s largest energy trader at one time, had to file bankruptcy under Chapter 11 when about 5000 workers lost their job (Bhattacharya, 2004). Arthur Anderson, one of the big five auditing firms was charged to have colluded with the management to misappropriate funds and project a picture different from the reality. Income was inflated and then all concerned papers were destroyed. The leadership at Enron was conce...
6 Pages (1500 words) Assignment

Managerial Economics and Business Environment

Once the above said subject matter is clearly sorted out, the next emphasis would be on the concepts like the opportunity costing, incremental principle, marginal principle, discounting principle, the principle of time perspective, and calculation of economic profit as the guidelines to the scope of managerial economics. (Surender. V, 2008).
To start with, we consider a firm for which different processes have to be carried to achieve its objectives of profit maximization (assuming that all the organizations work with the view to maximize profits). If firms from different sectors are identified simultaneously, then the working of the economy as a whole could also be analyzed which in turn is useful in the decision-making proce...
15 Pages (3750 words) Assignment

Developing Professional Practice Portfolio

I work in a very busy outpatient department that includes many different clinic settings.  Most recently, the oral surgery, maxillo-facial surgery, and plastic surgery departments have become part of our directorate as a result of reorganization with in the trust. Although I have always considered myself to be a competent, confident professional, I found working in this reorganized department very stressful. The unit seemed to be very poorly organized with staff shortages and inadequate facilities. I was most surprised to discover that there were no documented records for patient wound care services provided in the clinic. I found this latter situation to be unacceptable from a professional standpoint. Some of the patients in...
6 Pages (1500 words) Essay

The Globalization Policies in Different Countries

Most of the countries are still confused about the extent up to which foreign participation can be allowed. Everybody has the opinion that international trade can help the development of the economy and infrastructure in a country. Critiques of foreign participation argue that the big foreign retailers will exploit the wealth of a country and the small scale industries of a country will be destroyed by allowing the entry of foreign business tycoons and MNC’s. It is interesting to analyze the pros and cons of international trade.
From the above light green curve, it is clear that international trade has increased gradually from 1994 till 1997. In 1998 through international trade in this region had decreased a bit, it aga...
6 Pages (1500 words) Coursework

Developing a Research Base for Intravenous Peripheral Cannula Resites

...Context of the Paper To begin with, the of the paper is very much apt for the content. Although the could have come up with a more direct title, the title “Developing a Research base for Intravenous Peripheral cannula re-sites. A randomized controlled trial” captures the essence of the paper and what the authors aim to address. They, however, could have made it more direct to the point by maybe saying that the study is about a comparison between 3 day cannula re-sites and cannula re-sites as dictated by clinical condition. Nonetheless, the chosen t title is suitable enough to briefly inform the reader of the topic of the research. Two hypotheses were tested in this paper. There are two groups that were compared in the paper...
6 Pages (1500 words) Case Study

The Key Macro Factors that Have Influenced the UK Grocery Retailing Industry since the Early 1960s

... accounting for macro economic factors in strategy development and management, a business will fail (Johnson et al, 2008, p.3). If we consider this contextually with regard to the UK grocery market; the move demise of the local high street store to the dominance of supermarkets in the past 20 years has radically transformed the grocery market ( Henry, 2008, p.77). For example, the DEFRA Economic Note on UK Grocery Retailing (2006) indicates that in addition to continued growth in the UK Grocery Retail sector; approximately “3/4 sales are made in supermarkets and superstores… with traditional small retailers now accounting for only 7% of sales” (DEFRA, 2006). It is submitted that a key element of this is effective interrelationship between...
13 Pages (3250 words) Assignment

Macro and Microeconomics Factors in the UK Housing Market

The housing industry is divided into residential, commercial and industrial segments. Economists define supply in terms of service units, that is, a physical unit can be deconstructed into the services that it helps provide. These housing unit services are considered as an unobservable theoretical construct. Housing stock depreciates making it qualitatively different from a brand new constructed building.
The owner, user/owner and renter comprise the demand side of the housing market while the renovators and developers comprise the supply side of the market. In order to implement the simple demand and supply analysis to the housing markets, several modifications have to be made to the standard microeconomic procedures and ass...
8 Pages (2000 words) Research Paper

Developing of the Central African Republic

CAR is known to be one of the poorest nations in the African continent, apart from its frequent dependence on international donations in terms of food, clothing and medicinal supplies, CAR has also been a war zone for decades. The essay will relay more information on the various plights that children born in the Central African Republic go through while growing up.
Apart from most of the children being orphaned at a tender age due to maternal related problems or diseases such as HIV/AIDS, which is rampant in the nation, most of these children are victims of child trafficking, which is big business in the CAR (Lindborg). Lots of children from as little as 4 years normally go missing without a trace and the fact that the govern...
7 Pages (1750 words) Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic This is not actually Macro & Micro The class is called Economics of Developing Countries for FREE!

Contact Us