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
Adam Smith argued that the division of labor boosts development because it improves workers' skills, shortens production time, and fosters innovation in machinery and equipment. Therefore, all these factors collectively contribute to economic progress.
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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.According to neo-classical economists, how are wages primarily determined?
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