Across
- 3. attribute reasons of underdevelopment of developing nations for internal reasons
- 5. it is a classical Keynesian model of economic growth. It is used in development economics to explain an economy's growth rate in terms of the level of saving and productivity of capital
- 6. His model implies that output growth results from one or more of three factors : Increase in labor quantity and quality, Increase in Capital and/or Improvements in technology.
- 7. Ability to meet basic need such as food, clothing, and shelter, that are necessary to sustain an average human being at the bare minimum level of living.
- 8. Countries with little industrial development, little wealth, and high population growth.
- 12. It is a systematic explanation of relationships between economic variables, explains causal relationships among variables and provides a basis for policy.
- 16. The concept that the relationship between the rich and the poor countries is just a global version of the dualism that we see in every aspect of life.
- 19. what matters is not the things person has but what person is , or can be and does or can do
- 20. Used by UNDP to classify countries, 0 is the worst and 1 is the best.
Down
- 1. A ratio that shows the units of capital required to produce a unit of output over a given period of time.
- 2. results when some proportion of present income is saved and invested in order to augment future output and income
- 4. The proposition that developing countries have failed to develop because their development strategies (usually given to them by Western economists) have been based on an incorrect model of development.
- 9. failure: Occurs when the principal fails to induce agents to coordinate their actions, which leads to an outcome that makes all agents worse-off.
- 10. is a multi-dimensional process involving changes in social structures, popular attitudes, and national institutions, as well as the acceleration of economic growth, the reduction of inequality, and the eradication of poverty.” Todaro and Smith
- 11. Declared by the United Nations in September 2000 Aim.
- 13. It explains the growth of a developing economy in terms of a labor transition between two sectors, the capitalist sector and the subsistence sector
- 14. A theory argued that the economies of all countries could be placed within one of five different stages of economic growth
- 15. is the total value of all final goods and services produced within a country in a given period of time.
- 17. Fourth Stage of Rostow’s stages of growth
- 18. is basically a Marxist approach. It says that underdevelopment is due to the historical evolution of a highly unequal international capitalist system of rich country-poor country relationships