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    Eco 2

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    sanskriti jain
    The document discusses the scope of economics for the development of a country. It examines factors that determine a country's economic development, including problems of world poverty, theories of underdevelopment, the roles of agriculture, fiscal policies, foreign investment, and more. Poverty plays a vital role in a country's economic development and reducing global poverty is important for developing areas.

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    Eco 2

    Uploaded by

    sanskriti jain
    15 views3 pages
    The document discusses the scope of economics for the development of a country. It examines factors that determine a country's economic development, including problems of world poverty, theories of underdevelopment, the roles of agriculture, fiscal policies, foreign investment, and more. Poverty plays a vital role in a country's economic development and reducing global poverty is important for developing areas.

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    eco

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    ECO 2

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    The document discusses the scope of economics for the development of a country. It examines factors that determine a country's economic development, including problems of world poverty, theories of underdevelopment, the roles of agriculture, fiscal policies, foreign investment, and more. Poverty plays a vital role in a country's economic development and reducing global poverty is important for developing areas.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    15 views3 pages

    Eco 2

    Uploaded by

    sanskriti jain
    The document discusses the scope of economics for the development of a country. It examines factors that determine a country's economic development, including problems of world poverty, theories of underdevelopment, the roles of agriculture, fiscal policies, foreign investment, and more. Poverty plays a vital role in a country's economic development and reducing global poverty is important for developing areas.

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    © All Rights Reserved
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    of 3

    4.

    SCOPE OF ECONOMICS FOR A DEVELOP MENT OF A COUNTRY


    A country's general economic health can be measured by looking at that country's
    economic growth and development. Let's take a separate look at what indicators comprise
    economic growth versus economic development.

     ECONOMIC DEVELOPMENT- Economic development is the process by


    which emerging economies become advanced economies. In other words,
    the process by which countries with low living standards become nations
    with high living standards. Economic development also refers to the
    process by which the overall health, well-being, and academic level the
    general population improves.

    Many factors which determine the economic development of a country are as follows:

     Problem of world poverty


     Theories of under development and developing nation
     Role of agricultural sector
     Fiscal and monetary policies
     Role of state in economic development
     Foreign private investment and development
     Foreign trade and development
     Energy and environmental security
     Global corporation and global impact
    4.1. Problem of world poverty

    Defining poverty begins with a consideration of conditions that prevent regions, states and peoples
    from having access to wealth.

    The poorest people will also have less access to health, education and other services.
    Problems of hunger, malnutrition and disease afflict the poorest in society. The poorest are
    also typically marginalized from society and have little representation or voice in public
    and political debates, making it even harder to escape poverty.

    By contrast, the wealthier you are, the more likely you are to benefit from economic or
    political policies. The amount the world spends on military, financial bailouts and other
    areas that benefit the wealthy, compared to the amount spent to address the daily crisis of
    poverty and related problems are often staggering.

    In addition, developing nation governments are required to open their economies to


    compete with each other and with more powerful and established industrialized nations. To
    attract investment, poor countries enter a spiraling race to the bottom to see who can
    provide lower standards, reduced wages and cheaper resources. This has increased poverty
    and inequality for most people. It also forms a backbone to what we today call
    globalization. As a result, it maintains the historic unequal rules of trade.

    Around the world, in rich or poor nations, poverty has always been present.

    In most nations today, inequality—the gap between the rich and the poor—is quite high
    and often widening.
    The causes are numerous, including a lack of individual responsibility, bad government
    policy, exploitation by people and businesses with power and influence, or some
    combination of these and other factors.

    Many feel that high levels of inequality will affect social cohesion and lead to problems such
    as increasing crime and violence.

    Inequality is often a measure of relative poverty. Absolute poverty, however, is also a


    concern. World Bank figures for world poverty reveals a higher number of people live in
    poverty than previously thought.

    Therefore ,poverty plays a vital role for the economic development of a country. For a
    developed geographical area it is necessary to reduce poverty world at large.

    It hinders economic growth of a country.many measures have been taken now to reduce
    poverty but still it is not working properly.

    This is one of the main reason why under developed country remains under developed and
    developing country remains under developing.

    Scope of economics shall be widen to abolish roots of poverty from the geographical area.

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