Dual economy - answer-small elite and middle class with majority of the population in poverty
6 Variables that impact economic development - answer-1. history of the society
2. social cohesion
3. natural resources
al (infrastructure and finance)
5. human services (need an educated workforce ...
Dual economy - answer-small elite and middle class with majority of the population in
poverty
6 Variables that impact economic development - answer-1. history of the society
2. social cohesion
3. natural resources
4.capital (infrastructure and finance)
5. human services (need an educated workforce
6. population
Modernization Theory - answer--1950's and 1960's
-inspired by the Marshall Plan
-first approach to economic development
Marshall Plan - answer-foreign policy that offers aid after wars to help development
Liberal Economics - answer--free trade
-producing at least cost
-eliminate trade barriers
-minimum government intervention
How does liberal economics view microcredit? - answer-effective because people
take the initiative and work hard
Dependency Theory - answer-dual economy
export commodity concentration
trade partner concentration
heavy multinational corporation
CONT +
, CWP Exam 2 with 100% correct
answers 2024
How does dependency view microcredit? - answer-does not offer an answer to
global poverty
Participatory Development - answer--improvement in quality of life
-local leadership
How does participatory development view microcredit? - answer-helps improve
quality of life
What are the 3 economic development perspectives? - answer-1. liberal economics
2. dependency
3. participatory development
Bretton Woods Conference - answer--1944 (WWII Time)
-country leader came together to reform world economy
What came out of the bretton woods conference? - answer-countries leaders created
the World Bank and the IMF (which have a sister relationship)
What is the purpose of the world bank? - answer-to eliminate poverty and offer loans
What is the purpose of the IMF? - answer-promotes economic stability and global
growth
What is a quota? - answer-limit on the amount of things imported or exported
Structural Adjustment Provisions - answer--privatization
-reduction in government spending
-reduce regulation
CONT +
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