2.
Introduction to economics
Characteristics of developing economy
vicious circle of poverty.
Common features of developing country
Improvements or how to stabilize economy
conclusion
2
Contents
3. Economics is a science which deal with economy of a
country at macro or as well as at micro level..
According to ADAM SMITH..
“Economics is a science of wealth”
He broadly explain four factors of production.
1)Production of wealth 2)Exchange of wealth
3)Distribution of wealth 4) Consumption of wealth
3
Economics
5.
Some characteristics of developing country are
General poverty and low level of living
Rapidly rising population
Underutilization of natural resources
Shortage of capital
Corrupt administration
Illiteracy
5
Characteristics of
developing economies
6.
Illiteracy
Vicious circle of poverty
Un employment
Poor technology
Low PCI and low GDP
Feudalistic system
Foreign debts
Flight of capital from Pakistan
6
Cont..
7.
Political instability:
It frequent changes in government and military
rule.
People have no confidence in the ability of
government to improve their economic condition.
Government and politicians misleads the common
man in the name of religion, race, province etc.
7
Two Important features
9.
People ignorance and poverty provides
opportunities for corruption.
Selection of government officials is not on merit.
Political pressure do not allow clean administration
and it basic stage of social evil, corruption.
By this problem citizens of country cope many social
and economical problems and it cause un equal
distribution of wealth.
9
Inefficient and corrupt
administration
13.
Population control
Effective planning
Political stability
Development of energy resources
Increase in ratio of employment
Control of inflation
Surplus exports
Industrial developments
13
Stabilize economy
14.
There is a direct relation between economy and
politics because when there is political stability then
automatically our economy will boost up, when
budget of country will increase than it brings a huge
and positive change in a country….
14
Conclusion
15. Economics book part 2..
Author of book is: Habib Ulla vaseer
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Social anthropology
15
references
