Economics
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EXPORT PROMOTION MEASURES PAKISTAN
Since independence in 1947, Pakistan has been facing a peculiar situation of slow growth in respect of its exports. The exports have increased at an annual growth rate of 5.6% whereas some other developing countries in Asia like Korea, Taiwan,...
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VICIOUS CIRCLE OF POVERTY OR A COUNTRY IS POOR BECAUSE IT IS POOR
poverty is a great curse. It is the biggest hurdle in the way of economic development. Ranger Nurkse in ''Problems of Capital Formation in Underdeveloped Countries'' describes 'vicious circle of poverty as the basic cause of under-development of...
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Classification of Capital
The term ‘capital’ is rather broad as it includes both financial and physical assets. Depending upon its uses, capital can be classified in various ways...
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NATURAL RESOURCES AND ECONOMIC DEVELOPMENT
Mineral, power and forest resources are the foundation of economic development They help in giving an initial push to the raising of production in all sectors of the economy. If the quality of manpower is high a country, it will make the best use of...
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Large Families Equal Poverty
Studies have shown that there is a high incidence of poverty in large families than there is in small families. Doing without, even the rudiments is quite normal in large families.
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Is The American Economy Capitalist Or Socialist?
Bernie Sanders has brought the term socialism back into our political conversation. The GOP will seek to demonize him. Is our economy devoid of socialism? I will show how much we have and still need.
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How is Price Determined under Monopoly Market?
Monopoly means absence of competition. Monopolist is the sole seller of a commodity. Under monopoly, the price of a good is determined by the interaction of supply and demand, but in a different way..
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Law of Diminishing Returns
The law of diminishing returns is one of the most eminent concepts in the theory of production function. The modern version of the law of diminishing returns is known as law of variable proportions...
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Ricardian Theory of Rent
The Ricardian theory of rent has been the basis for all discussion on the problem of rent. The theory is named after David Ricardo, an eminent economist of the nineteenth century. It is one of the...
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DETERMINANTS OR REQUISITES OF ECONOMIC DEVELOPMENT
1. Factors in Economic Development Economic development is a complex process. It is influenced by a number of factors such as natural resources, capital, human resources, technology, social attitude of the people,...