Development Theories and Under Development
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- Development Theories and Under Developmentpolitical-science-mcqs › development-theories-and-under-development
- Published
- 18 Jun 2022
- Last updated
- 28 May 2026
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Explanation
Neo-classical economists maintained that wages are determined by the productivity of the last worker employed, also known as the marginal worker. While supply and demand influence wages, their main assertion focused on marginal productivity as the key determinant.
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Practice related questions from the same subject.
- 1.According to Hansen, what are the two main constraints on development today compared to the nineteenth century?
- 2.Who extended the concepts introduced in The General Theory of Employment, Interest, and Money through the Theory of Economic Maturity?
- 3.Which of the following statements is incorrectly identified as a flaw in Schumpeter’s theory?
- 4.How did Schumpeter describe the role of entrepreneurs in economic development?
- 5.According to Schumpeter, major progress in a country's production happens through irregular jumps and bursts. This concept was:
- 6.What is the primary shortcoming of the neo-Classical development theory?
- 7.According to new-classical economists, who gains from economic growth?
- 8.Which of the following is incorrectly identified as a component of Marx's theory of development?
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