Economics(Paper-4) - Shivaji University

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) Subsistence Sector: agriculture sector c) Take-off stage: the stage ofpeak level development d) Spread effect: effect which helps development of an economy. e) Backwash effect: effect which affected economic development. f) Indivisibility: unseparateness 2.5 Questions 2.5.1 Objective Type Questions: A. Give Answer in one Sentence 1. In which book Lewis developed his unlimited supply of labour theory? 2. Which sector have unlimited supply of labour? 3. What is subsistence sector? 4. What is capitalists sector? 5. Which are the five stages of Rostow’s theory of development? 6. Which effect is favourable for development of economy? 7. Give two assumptions of Lewis theory. 8. In which book Rostow developed his theory? 9. According to Lewis what is dual economy? 10. When Rostow published his stages of economic development? Answers : 1. Lewis developed his theory in “Economic Developed with Unlimited Supplies of Labour” 2. The subsistence sector have unlimited supply of labour. 3. The part of the economy which used reproducible capital. 4. The subsistence sector is that part of the economy which is not using reproducible capital. 5. a)The Traditional Stage, b)The Pre-Conditions for Take-off, c)Take-off Stage, d) Drive to Maturity and e) High Mass-Consumption these are the stages of economic development. 6. Spread effect is favourable for development of an economy. 7. Dual economy and unlimited supply of labour are the assumptions of Lewis theory. 123456789012345678901234567890121234567 123456789012345678901234567890121234567 28 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567
8. Rostow developed his theory in “A Non-Communist Manifesto”. 9. Dual economy means existence of two sectors viz. subsistence sector and capitalist sector. 10. Rostow published his stages of economic development in 1960. B. Fill in the Blank 1. Lewis published his theory in……… a) 1952 b) 1954 c) 1958 d) 1960 2. The theory of circular causation is propounded by……….. a) Gunnar Myrdal b) W.W. Rostow c) Arthur Lewis c) R. Rodan 3. The term ‘spread effect’ coined by……… a) Gunnar Myrdal b) W.W. Rostow c) R. Rodan d) Arthur Lewis 4. The term ‘backwash effect’ coined by ……….. a) Gunnar Myrdal b) W.W. Rostow c) R. Rodan d) Arthur Lewis 5. The book ‘A Non-Communist Manifesto” wrote by……. a) Gunnar Myrdal b) W.W. Rostow c) R. Rodan d) Arthur Lewis 6. Rostow published his stages of economic growth in …… a) 1960 b) 1950 c) 1955 c) 1965 7. The ………stage also known as ‘Pre-Newtonian’ stage. a) The Traditional Stage b) Take-off Stage b) Drive to Maturity c) High Mass-Consumption 8. …….is the peak level development stage in Rostow’s theory. Answers : a) The Traditional Stage b) Take-off Stage c) Drive to Maturity d) High Mass-Consumption 1. 1954 2. Gunnar Myrdal 3. Gunnar Myrdal 4. Gunnar Myrdal 5. W.W. Rostow 6. 1960 7.Traditional 8. Take-off Stage 123456789012345678901234567890121234567 123456789012345678901234567890121234567 29 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567
Page 1 and 2: B. A. Part-III : Economics Paper 4
Page 3 and 4: 7) “ Economic development is a pr
Page 5 and 6: underdeveloped countries in compari
Page 7 and 8: developing states through the progr
Page 9 and 10: 7) Goals : objectives. 8) Disguised
Page 11 and 12: UNIT - 2 Theories of Economic Growt
Page 13 and 14: structure of the traditional societ
Page 15 and 16: help of example, “If we take marg
Page 17 and 18: promote and enhance social welfare.
Page 19 and 20: B The Closed Economy : Assumptions
Page 21 and 22: B The Process of Economic Expansion
Page 23 and 24: consider the possibility of the cap
Page 25 and 26: gap between income and expenditure
Page 27: disequalising force is trade, which
Page 31 and 32: UNIT - 3 Domestic Measures for Econ
Page 33 and 34: all kinds. Hence, capital formation
Page 35 and 36: policy. But these trio are and may
Page 37 and 38: 1) Provision of food to evergrowing
Page 39 and 40: the country.The central bank contro
Page 41 and 42: 7) Public Spending : Fiscal policy
Page 43 and 44: 3.3 Conclusion / Summary : Capital
Page 45 and 46: UNIT - 4 International Measures for
Page 47 and 48: Y P S C Import E D P O X1 X2 B X Ex
Page 49 and 50: for the developing countries has al
Page 51 and 52: they are entitled to get dividend a
Page 53 and 54: 4) Infrastructure : Since last thre
Page 55 and 56: III) Advantages of Multi-national C
Page 57 and 58: oundaries of nation states. 2) Mean
Page 59 and 60: 4.3 Summary : 1) Role of Foreign Tr

Economics(Paper-4) - Shivaji University

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