Development Theories and Under Development

A. Shifting frontiers and growing population
B. Decline in purchasing capacity and growing unemployment
C. Technological changes and presence of large labour force
D. Growing population and prevailing unemployment

A. Adam Smith
B. Keynes
C. Ricrodo
D. Marshall

A. He wrongly asserts that capitalism is crumbling and socialism is likely to replace it
B. His theory is defective in so far as it tries to present the spirit of enterprise as a phenomenon common to all social organisations
C. His assumption that all innovations are financed by borrowings is not correct because banks generally provide only short-term loans
D. None of the above

A. Quickly catering to the tastes of the consumers
B. Bringing about changes in the tastes of consumers
C. Providing the existing goods at the lowest price
D. All the above actions

A. His original contribution
B. Borrowed by him from Marx
C. Borrowed by Schumpeter from neo-classical thinkers
D. None of the above

A. It attaches too much importance to factors like political stability and attitude of the people
B. It completely ignores factors like political stability and attitudes of people
C. It refused to consider development as a gradual and continuous process
D. It completely ignores the importance of interest as a factor in establishing equilibrium between supply of savings and demand for capital

A. All the major income groups
B. Only the capitalists
C. Only the workers
D. None of the above

A. Reiterated their faith in the people that wages are determined by supply and demand
B. Asserted that the wages are determined by the productivity of the last worker employed
C. Asserted that the wages of workers had consistently increased
D. None of the above

A. Class-struggle
B. Theory of surplus value
C. Centralisation of capital
D. None of the above

A. It underestimated the possibility of technological progress
B. It failed to adequately analyze the problem of maintaining aggregate demand
C. It attached too much importance to the role of technology in development
D. None of the above