SOCIO-ECONOMIC PROBLEMS OF PAKISTAN Outline: •Introduction Pakistan is a resource rich country but due to incompetent politicians‚ strong generals‚ weak judiciary‚ conservative Ulemas and controlled media‚ it is facing socio-economic‚ political and religious challenges. • Problems Faced By Pakistan At The Time Of Inception From its very inception‚ Pakistan faced a large number of problems. Some of the initial difficulties were 1. Choice of Capital and Establishment of Government
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ECONOMICS INNOVATION AND ECONOMIC GROWTH IN CHINA by Yanrui Wu Business School The University of Western Australia DISCUSSION PAPER 10.10 Innovation and Economic Growth in China Yanrui Wu ( ) Economics UWA Business School University of Western Australia Australia yanrui.wu@uwa.edu.au Abstract China has enjoyed high economic growth for three decades since the initiative of economic reform in 1978. This growth has however been driven mainly by labour-intensive‚ export-oriented
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In my Economics class‚ we are discussing traditional‚ command‚ and market economies. Some say‚ "Well‚ it would be much better if we switched from Market to Command." All in all‚ there are many advantages and disadvantages to this. A command economy limits the personal freedom and individuality of a person‚ and the central government answers all the economic questions offered. Laissez-faire is predominant in a market economy‚ which has little government interference. Although we would like to think
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[pic] THE NETWORK ECONOMY The Network Economy The history of economics of the Industrial Revolution since its beginnings is based on growth. Growth of people meant more customers and growth of production‚ which lead to growth in profits. This so-called “old” or traditional economy was based on bulk production‚ demanding large quantity of resources and limited know-how. The traditional economy‚ according to Alfred Marshall was based on diminishing returns. According to him producers
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1 (A)Explain the main characteristics of a market economy‚ also called the "free market economy" and "free enterprise economy" is an economic system based on the distribution of economic goods where private individuals own the factors of production (land‚ capital‚ labor and enterprise) and decide what to produce. Prices of goods and services are determined in a free price system guided by the function of demand and supply. For example‚ the price of thick jackets will drop in summer because there
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Economic growth and public policy To increase productivity and living standards‚ governments can can: 1. Encourage saving and Investment: Goal: invest more current resources in the production of capital to increase physical capital (K). Trade-off: The opportunity cost of investment is that someone must forgo current : consumption in order to save and invest sumption Note that: because of diminishing returns‚ an increase in the saving rate leads to higher growth of productivity and income only
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What is demographic transition? How can demographics of a country have an impact on its economic growth? Let me first address the first part of this question‚ Demographic transition refers to a change in the development stage of the country as it transgresses from a pre-industrialized era to an industrialized. The major change witnessed in the country will be a distinctive decrease in the birth and the death rates. This transition is illustrated through a demographic transition model
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Undergraduate Economic Review Volume 6 | Issue 1 Article 7 2010 The Role of Entrepreneurship in Economic Growth Daniel Smith University of North Carolina at Chapel Hill‚ danielsm@email.unc.edu Recommended Citation Smith‚ Daniel (2010) "The Role of Entrepreneurship in Economic Growth‚" Undergraduate Economic Review: Vol. 6: Iss. 1‚ Article 7. Available at: http://digitalcommons.iwu.edu/uer/vol6/iss1/7 This Article is brought to you for free and open access by the Economics Department at Digital
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Economics 515 AU11 Midterm 1 Review 1. Explain the difference between economic growth and economic development. Define extensive growth. Define intensive growth A) Economic growth is defined by increases in GDP. B) Whereas‚ economic development is more of a vague measure usually incorporating social measures such as literacy rates or life expectancy as a means of measuring a country ’s level of development. C) Extensive Growth‚ is based on the expansion of the quantity
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Conflicting Goals in Economic Growth Goals of monetary policy are to "promote maximum employment‚ inflation (stabilizing prices)‚ and economic growth." If economists believe it’s possible to achieve all the goals at once‚ the goals are inconsistent. There are limitations to monetary policy. The term "maximum employment" means that we should try to hold the unemployment rate as low as possible without pushing it below what economists call the natural rate or the full- employment
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