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  • 1. UNDERDEVELOPMENT & DEVELOPED ECONOMIES DEFINATION OF UNDERDEVELOPED ECONOMY CAUSES OF UNDERDEVELOPMENT MEANING OF ECONOMIC DEVELOPMENT FEATURES OF ECONOMIC DEVELOPMENT NEED OF ECONOMICS DEVELOPMENT DETERMINANTS OF ECONOMICS DEVELOPMENT
  • 2. CAUSES OFUNDERDEVELOPMENT ECONOMY Y ECONOMIC CAUSES YY1. MARKET IMPERFECTION INFLEXIBLE ECONOMY P P PR2. OD VICIOUS CIRCLE OF POVERTY PP P UC3. TI P ON LACK OF CAPITAL FORMATION AC4. PO TU L SS AL IB PR IL NON ECONOMICS CAUSES IT OD Y UC LI NE SOCIALCAUSES TI1. ON LI RELEGIOUS CAUSES NE2.3. POLITICAL CAUSES4. ADMINISTRATIVE CAUSES X M M C C M C
  • 3. DEFINATION OFUNDERDEVELOPMENT ECONOMYBY “M.P. TODARO” UNDERDEVELOPED ECONOMYIS THAT ECONOMY IN WHICH THERE ARE LOWLEVEL OF LIVING,ABSOLUTE POVERTY,LOW PERCAPITA INCOME,LOW CONSUPTIONLEVELS,POOR HEALTH SERVICE, HIGH DEATHRATES,HIGH BIRTH RATES & DEPENDENCE ONFOREIGN ECONOMIES
  • 4. MEANING OF ECONOMIC DEVELOPMENTIN WORDS OF APPROACHESSALVATORE,”ECONOMIC REGARDINGEVELOPMENT HAS BEEN ECONOMIC DEVELOPMENTDEFINED AS THE PROCESSWHERE BY A COUNTARY’SREAL AS PER CAPITA INCOME& GROSS NATIONALPRODUCT INCREAS OVER ASUSTAINED PERIOD OF TIMETHROUGH CONTINUOUSINCREASE IN PER CAPITAPRODUCTIVITY”. TRADITIONAL & MORDERN APPROACH VIEW
  • 5. CAPITA INCOMES NATIONAL INCOMEPER CAPITA INCOME = POPULATION INCOME REAL NATIONAL INCOMEREAL PER CAPITA INCOME = POPULATION SIZE
  • 6. FEATURES OF ECONOMIC DEVELOPMENT INCREASE IN REAL  GROWTH OVER LONG NATIONAL INCOME PERIOD INCREASE IN REAL  HUMAN PERE CAPITA INCOME DEVELOPMENT REDUCTION IN  REDUCTION IN INCOME POVERTY INEQUALITIES  INSTITUTIONAL STRUCTURAL DEVELOPMENT CHANGES
  • 7. NEED OF ECONOMIC DEVELOPMENT1. INCREASE IN NATIONAL INCOME2. HIGH STANDARD OF LIVING3. MORE CAPITAL FORMATION4. LESS DEPENDENCE ON AGRICULTURE5. SELF SUFFICIENCY6. FORMATION OF HUMAN CAPITAL
  • 8. DETERMINANTS OFECONOMIC DEVELOPMENT DETERMINANTS OF ECONOMIC DEVELOPMENT ACCORDING TO DR. R.T.GILL,”DETERMINANTS OFECONOMIC DEVELOPMENTDEPEND UPON THE SIZE,ORGANISATION & NATUREOF PRODUCTIONCAPACITY OF ANECONOMY.” ECONOMIC DETERMINANTS - NON ECONOMIC DETERMINANTS
  • 9. VICIOUS CIRCLE OF POVERTY NURKSE SAYS,”A LOW INCOME LIMITED PROCESSING COUNTRY IS POOR POWER BECAUSE IT IS POOR.” SMALL AMOUNT OF INVESTMENT
  • 10. ACCORDING FIRST FIVE YEAR PLAN AN UNDERDEVELOPMENT ECONOMY IS CHARACTERISED BY THE CO-EXISTENCE IN GREATER OR LESS DEGREE OF UNUTILISED MANPOWER ON ONEGUNNER MYRDAL HANDSAYS,”AN UNDERDEVELOPMENT COUNTRYIS THAT IN WHICH THEREIS A COSTELLATIONOFNUMEROUSUNDESIRABLECONDITION OF WORK &LIFE.”
  • 11. HERE WE SEE ABOUTECONOMIC CONDITIONS OFCOUNTRY
  • 12. ECONOMIC CAUSES 1. MARKET IMPERFEC TION2.IMMOBILELABOUR 3.MONOPOLISTICS PRACTICE
  • 13. ECONOMIC GROWTH1.NARROW ECONOMICCONCEPT2.QUANTITATIVE3.CONTINUOUS CHANGES4.RELATED WITH DEVELOPEDNATION
  • 14. ECONOMICDEVELOPMENT1.BROAD ECONOMICCONCEPT2.QUALITATIVE3.DISCONTINUOSCHANGES