Economics(Paper-4) - Shivaji University
Economics(Paper-4) - Shivaji University Economics(Paper-4) - Shivaji University
The share of the primary sector in the under-developed countries is significantly larger an on the average, than in the group of advanced countries. 2) Capital Deficiency : Capital deficiency is another characteristics which is universally applicable to all these countries. It is both a cause and an effect of underdevelopment. Generally under developed countries suffer from chronic shortage of capital which is largely responsible for low per capita income in an economy. In other words availability of capital in underdeveloped countries is very low as compared to that in well advanced countries. 3) Unutilized / underutilized Natural Resources : The natural resources in an underdeveloped economy are either unutilized or under utilized. Generally speaking under developed countries are not deficient in land, water, mineral, forest or power resources, through they be untapped. In other worlds they constitute only potential resources. The main problem in their case is that such resources have not been fully and properly utilized due to various difficulties, such as their inaccessibility shortage of capital, primitive techniques, and the small extent of the market. 4) General Poverty : An underdeveloped country is poverty-ridden . Poverty is mostly reflected in very low per capita. Income as compared to that of the developed countries. It is the per capita income of a country which determines whether a country is richer or poor. i.e. developed or underdeveloped. The average annual per capita income in under developed countries like India, Pakistan and Indonesia is below and whereas it is much higher in the developed countries. The extremely low GNP per capita of low-income economies reflected the extent of poverty in them. It is not relative poverty but absolute poverty that is more important in assessing such economies. The absolute poverty is reflected in low living standard of the people. 5) Economic Backwardness of the people : The people in under-developed countries are economically very backward, that is the quality of the people as productive agents is low. Instead of acquiring the greatest possible control over their physical environment, the people have struck as balance with nature at an elementary level. They have been relatively unsuccessful in solving the economic problem of man’s conquest of this are low labour efficiency, factor immobility, limited specialization in occupation and a value structure and social structure that minimize the incentives for economic changes. 6) Demographic Features : The underdeveloped countries are generally suffering from the problem of over population. The main demographic characteristics of these countries are - 1) Most of the underdeveloped countries are in the high population growth potential stage with high birth rate and sharp declining death rate. 2) The overage expectation of life in underdeveloped countries is much lower than that of advanced countries. 3) The percentage of economically active population is very small in 123456789012345678901234567890121234567 123456789012345678901234567890121234567 4 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567
underdeveloped countries in comparison to developed countries. 7) Agriculture is The main Occupation : In underdeveloped countries Two-third (70 to 80%) or more of the people live in rural areas and their main occupation is agriculture. 8) Foreign Trade Oriented : On making careful scrutiny, it has been noticed that underdeveloped countries are foreign trade oriented. It is reflected by their dependence on the production of few primary commodities which are almost completely exported and import of consumer goods and machinery. 9) Dualism : A striking feature of under-developed economies is its dualism, a strange admixture of the economically backward and economically developed economies seen within the same economy. 10) Imbalance between Resources and population : In developing countries there is a serious imbalance between the available stock of land, capital and other productive resources and population i.e. resources are scare as compare to population. 11) Unemployment and Disguised Unemployment’ : In underdeveloped countries there Is vast open unemployment and disguised unemployment. In rural as well as urban both educated and uneducated youth. Other characteristics of underdeveloped countries are – Lack of infrastructural facilities, poor Economic organization, Technological Backwardness, Lack of enterprenurial skill. Economic Backwardness and unfavorable Institutional set up. 1.2.3 Millennium Development Goals : In September 2000 at the UN millennium Summit 189 world leaders adopted the UN millennium Declaration which laid down the millennium Development Goals (MDGS) made up of eight goals and 18 targets to be achieved by 2015. These goals and targets have vast array of interlinked dimensions of development ranging from the reduction of extreme poverty to gender equality, to health, education and environment. The March 2002 UN International Conference on financing for Development in Monterrey, Mexico and the September 2002 W orld Summit on sustainable Development in Johansberg. South Africa reaffirmed the Commitments of rich and poor countries to these goals and their development targets. B Goals : 1) Eradicating extreme poverty and hunger. 2) Achieve universal primary education. 3) Promote gender equality and empowerment of women. 4) Reduce child mortality. 123456789012345678901234567890121234567 123456789012345678901234567890121234567 5 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567 123456789012345678901234567890121234567
- Page 1 and 2: B. A. Part-III : Economics Paper 4
- Page 3: 7) “ Economic development is a pr
- 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 and 28: disequalising force is trade, which
- Page 29 and 30: 8. Rostow developed his theory in
- 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
underdeveloped countries in comparison to developed countries.<br />
7) Agriculture is The main Occupation : In underdeveloped countries Two-third<br />
(70 to 80%) or more of the people live in rural areas and their main occupation is<br />
agriculture.<br />
8) Foreign Trade Oriented : On making careful scrutiny, it has been noticed that<br />
underdeveloped countries are foreign trade oriented. It is reflected by their dependence<br />
on the production of few primary commodities which are almost completely exported<br />
and import of consumer goods and machinery.<br />
9) Dualism : A striking feature of under-developed economies is its dualism, a<br />
strange admixture of the economically backward and economically developed<br />
economies seen within the same economy.<br />
10) Imbalance between Resources and population : In developing countries<br />
there is a serious imbalance between the available stock of land, capital and other<br />
productive resources and population i.e. resources are scare as compare to population.<br />
11) Unemployment and Disguised Unemployment’ : In underdeveloped<br />
countries there Is vast open unemployment and disguised unemployment. In rural as<br />
well as urban both educated and uneducated youth.<br />
Other characteristics of underdeveloped countries are – Lack of infrastructural<br />
facilities, poor Economic organization, Technological Backwardness, Lack of<br />
enterprenurial skill. Economic Backwardness and unfavorable Institutional set up.<br />
1.2.3 Millennium Development Goals :<br />
In September 2000 at the UN millennium Summit 189 world leaders adopted the<br />
UN millennium Declaration which laid down the millennium Development Goals (MDGS)<br />
made up of eight goals and 18 targets to be achieved by 2015. These goals and targets<br />
have vast array of interlinked dimensions of development ranging from the reduction of<br />
extreme poverty to gender equality, to health, education and environment.<br />
The March 2002 UN International Conference on financing for Development in<br />
Monterrey, Mexico and the September 2002 W orld Summit on sustainable Development<br />
in Johansberg. South Africa reaffirmed the Commitments of rich and poor countries to<br />
these goals and their development targets.<br />
B Goals :<br />
1) Eradicating extreme poverty and hunger.<br />
2) Achieve universal primary education.<br />
3) Promote gender equality and empowerment of women.<br />
4) Reduce child mortality.<br />
123456789012345678901234567890121234567<br />
123456789012345678901234567890121234567<br />
5<br />
123456789012345678901234567890121234567<br />
123456789012345678901234567890121234567<br />
123456789012345678901234567890121234567<br />
123456789012345678901234567890121234567<br />
123456789012345678901234567890121234567<br />
123456789012345678901234567890121234567
Change language