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What are some examples of economic theory in practice?
Examples of economic theory in practice include supply and demand determining prices, the concept of opportunity cost influencing decision-making, and the impact of government policies on market outcomes.
Why dependency ratio higher in India?
It jest is
Why profit vary among firms?
s vary among firms? support each theory with practical five examples
Definition of dependency ratio?
The definition of dependency ratio is the percentage of dependents in the total population. This includes children from infants to 14 years and seniors who are above 65 years f age.
How is dependency ratio used in economics?
"The dependency ratio is used in Economics to measure the working population and non working population. It is age-population ration, and takes into account both dependents and productive populations."
What is the Modernization theory and the dependency theory?
The modernization theory puts the most emphasis on economic development social and cultural change, and political stability. The theory believes that certain steps can bring success to every country and that the policies and ways of western countries is best. An important difference with the dependency theory is that western countries force their rules and policies on developing countries. The dependency theory was developed to criticize the modernization theory.
What are the different between modernization theory and dependency theory?
Modernization theory focuses on how underdeveloped countries can develop and advance by adopting Western practices and technology. On the other hand, dependency theory argues that underdeveloped countries are exploited by more powerful nations, leading to their underdevelopment. Dependency theory emphasizes the negative impact of global economic structures on developing countries, while modernization theory focuses on internal factors for development.
What do critics of dependency theory claim?
critics of dependency theory says that any nation that has stopped imports items to its country has lessen the competition and to improve work for better services which is rendered to customers.
Does dependency theory run in families genetics?
"The theory of dependency running in family genetics is an ongoing study. There is strong evidence that there is a genetic component to many dependencies therefore I would say that yes, it does run in family genetics."
What is neo-colonial dependency theory?
Neo-colonial dependency theory suggests that former colonial powers maintain economic, political, and cultural control over former colonies through indirect means, such as economic policies and trade relations. It argues that this continued dependency perpetuates underdevelopment in the formerly colonized countries.
Discuss the main tenets of the dependency theory and analyze its analytical relevancy to developing countries?
QUESTION Discuss the main tenets of the dependency theory and anlyse its analytical relevancy to developing countries QUESTION Discuss the main tenets of the dependency theory and anlyse its analytical relevancy to developing countries
What are the Weakness of dependency theory of development in Africa?
Some weaknesses of dependency theory in the context of African development include its tendency to oversimplify complex issues, its focus on external factors at the expense of internal dynamics, and its potential to perpetuate a victim mentality among developing countries. Additionally, the theory has been criticized for being deterministic and not providing a clear path for how countries can break free from dependency relationships.
How does dependency theory relate to third world societies?
Dependency theory posits that third world societies are kept in a state of underdevelopment due to their economic dependence on more developed nations. This theory argues that the exploitation of resources, unequal trade relationships, and historical colonial legacies perpetuate poverty and hinder development in these societies. Dependency theory highlights the structural disparities and power dynamics that contribute to the economic and social challenges faced by third world countries.
What are the main arguments of the dependency theory its causes and solutions of underdevelopment in third world countries?
Dependency theory argues that underdevelopment in third world countries is a result of the unequal economic relations between developed and underdeveloped nations, with the latter being dependent on the former. This dependency is perpetuated by factors such as neocolonialism, exploitation of resources, and unequal trade relationships. Solutions proposed by dependency theory include promoting self-sufficiency, reducing reliance on foreign investment, and fostering economic policies that prioritize domestic development.
What are the characteristics of dependency theory?
Dependency theory suggests that global inequality is largely due to the exploitation of developing countries by developed countries. It emphasizes the role of historical colonialism and neocolonial practices in perpetuating underdevelopment. Dependency theorists argue that developing countries are structurally dependent on developed countries for resources, technology, and markets, leading to unequal power relations.
How applicable is dependency theory?
Dependency theory can be applicable in analyzing the unequal power dynamics between developed and developing nations, especially in terms of economic exploitation and political influence. It emphasizes the role of external factors in shaping the development trajectory of countries. However, dependency theory has been criticized for oversimplifying complex issues and not accounting for internal dynamics within nations. Its applicability may vary depending on the specific context being analyzed.
Importance of dependency theory in policy making in Nigeria?
Becasue Nigeria is a third world country, the dependency theory claims that world banks and organizations which lend money and help to third world countries from developed nations create a dependecy from Nigeria to developed countries.
