Economic development focuses on how to improve the economies of developing countries. It measures the quantitative and qualitative changes in an economy. Economic development incorporates both private and public sectors because governments try to promote growth in private sectors and their investments. As a subject, economic development encompasses business, public administration, and sociology, along with economics.
Development economists see the improvement of healthcare, education, domestic and international policies, and market conditions as ways to create economic growth in poor countries. This branch of economics looks at microeconomic and macroeconomic factors when assessing the structure of the developing country and how its economy can create international and domestic growth. It strives to improve quality of life through economic processes.
A goal of development economists is to create a larger range of economic decisions and social choices for individuals and nations. By improving the economic conditions of a country, individuals have more freedom in their economic choices and are able to receive more life-sustaining goods like protection and food. Economic development is different from economic growth because economic growth is the increase of a measure of an economy, such as gross domestic product. Economic development encompasses the improvements of welfare, such as education and the environment. The main difference is that economic development looks at the progress of economic welfare overall, whereas economic growth only looks at particular variables. Economic growth is therefore a branch of economic development.
Gross domestic product (GDP), gross national product (GNP), and purchasing power parity (PPP) are some measures of economic development. There are some inconsistencies in these types of measurement because negative externalities of economic growth are not accounted for, such as environmental factors. Social indices, which as easily measured features of a country, are used to measure economic development. These types of social indices include life expectancy, infant mortality, and fertility rate.
Categories within Economic Development:
Barriers to growth are the conditions or systems that stop a country from strengthening and growing its economy.
Economic growth is an economy's increase in the production of goods and services, as well as the increase in technological changes and advancements.
Employment is when an individual, the employee, works for wage for an employer.
Foreign relations are the relationships between the representations of foreign states or groups and one’s own state.
Supply and demand reflects how price is determined in a market. Supply shows how much a market can offer and demand shows the quantity of a good or service that are desired by consumers.
Technology is involved in the development of an economy because it can control how and how much of a good is produced.
Burger King and McDonald's are situated on opposite corners of a downtown intersection. Burger King and McDonald's compete on the basis of the prices they set for their burger, fry, and soda combination meals. Every Monday, Burger King and McDonald's simultaneously choose their combo meal prices, which will remain in effect for
Many firms today use 360-degree performance evaluations. Make a case for this type of evaluation based on the informativeness principle. What problems may be encountered from implementation of such a system?
What types of legislation may or may not be affected by the aging population?
Actually Apple is how big, based on Market Capitalization and explain a) Top 10 companies in the world. b) Top 10 companies in the USA. c) Top 50 companies in the USA. d) Top 100 companies in the USA. AAPL is not the #1, who's the #1 company in the world (by mkt cap, not Revenue)? ALSO, in Economics
Consider the following land distribution data for a developing country: Holding size % Holdings % Holdings Area CUMUL Less than 1 50 5 5 1-2 20 10 15 2-10 15 15
Suppose a country has a life expectancy of 51.5, an adult literarcy rate of 62.6%, a combined gross enrollement ratio of 45%, and GDP per capita PPP of $853. 1. What is its Traditional Human Development Index (HDI)? 2. Calculate how much its life expectancy would have to rise to achieve "medium human development" status (that
Why is the demand for residential natural gas (gas used for heating, cooling, and cooking) is more elastic than the demand for residential electricity?
Based on the computer industry what are the positive and negative effects of either a sudden increase or decrease in the number of competitors on prices in the long run. What would you recommend as a course of action, if any, and how would price moves from today to the future?
What are the major differences between the architectures of markets versus firms?
Explain why auto manufacturers produce their own engines but purchase mirrors from independent suppliers.
What is the PPI and GDP and explain how are they developed.
Please see the attached for details 1. Accounting receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset turnover
The WSJ recently reported that Juniper Networks plans to offer its more than 1000 workers the opportunity to reprice their stock options. The announcement comes at a time when their stock is down 90%, leaving many employees stock options worthless. How do you think Juniper's CEO justified repricing the employees stock options
What can a multinational corporation do to aid its managers in the development of a personal ethical value system that is in keeping with the legal and cultural values of their host countries?
So I'm wondering if any of you over-achievers have any advice for me. Specifically I'm wondering - what else can I be doing to make my resume' more attractive? I'm hoping to enter an Econ PhD program and eventually work at a social experimentation firm (probably). Do you know of any sort of certifications or something which I co
Describe the competitive nature of agricultural markets. Give some examples.
How do I evaluate the effectiveness of of my IMC?
3.Discuss how coaching rather than managing people can (a) enhance a leader's understanding of RQ and therefore provide a better understanding of their followers. Also, (b) how may RQ assist leaders in the developing employees and creating a more productive and satisfied work group and (c) identifying effective novel reward beh
General Electric has frequently placed managers together to work on teams. Often the work assignment is only for a short period of time. General Electric makes sure that the quality of an employee's performance on a given assignment is recorded and shared with future teams. Why do you think that they do this?
In 1981, the U.S. negotiated an agreement with the Japanese. The agreement called for Japanese auto firms to limit exports to the U.S. The Japanese government was charged with helping make sure the Japanese firms met the agreement. Were the Japanese firms necessarily hurt by this limited ability to export?
Is the privatization of some services such as mass transit generally in the public interest (since publicly operated mass transit programs almost invariable operate at a loss)? Can I have a written reason as to why or why not?
Do sports stadiums really create additional revenue or do they merely shift the available spending power among the competing sectors of the local economy?
Do you think that WalMart.com is likely to create additional value?
23. A dollar spent on activities that occur during the RD&E cycle: a. can save up to $80-$100 on manufacturing and post-manufacturing activities b. can save up to $8-$10 on manufacturing and post-manufacturing activities c. can save up to $20-$30 on manufacturing and post-manufacturing activities d. can save up to $30-$40
Consider the national income and output data listed: 1)Personal Consumption Expenditure= 1491 2)Transfer Payments 274 3)Depreciation -234 4)Retained earnings-112 5)Gross Fixed Investment-378 6)Fed. State Local Govts' Purchases-354 7)Changes in Bus.Inventories-26 8)Interest Paid To Institutions-176 9)Imports-
International trade seems on its surface fairly straight forward. However, beneath the seeming simplicity lies a dynamic complexity which was first conceptualized centuries ago. Today international trade is ingrained in our lives, with great economi... READ MORE »
Economic Issues and Concepts
- Economy is based on _________ and is _________.