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Why is an economic surplus necessary for economic development?
Wiki User
∙ 13y ago
Economic surplus is necessary for development because it means a economy is producing more than its consuming. So it is exporting and making money and getting richer which leads to development.
Wiki User
∙ 13y ago
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Is economic growth necessary for economic development?
Economic growth is necessary for economic development but not a sufficient proof of economic development. The improvement of people's living condition is a greater assessment of economic development.
What is the difference between social infrastructure and economic infrastructure?
Infrastructure means the basic facilities which are necessary for the development of a nation. Economic infrastructure is the combination of basic facilities which is helpful in economic development of an economy and businesses. It includes facilities of telecommunication, electricity, transportation, energy etc. Social infrastructure is the combination of basic facilities which are necessary for human development. It includes health (hospitals), education (school, colleges etc.) and housing. Both of these infrastructures are complementary to each other and are necessary for the overall development of an economy.
Does an increase of economic surplus in a market always mean that economic efficiency has increased?
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
What are the nature of Economic development?
nature of economic development
What is surplus economic unit?
An economic unit having access of funds and wants to lend his funds
Is economic growth necessary for economic development?
Economic growth is necessary for economic development but not a sufficient proof of economic development. The improvement of people's living condition is a greater assessment of economic development.
What has the author Anders Danielson written?
Anders Danielson has written: 'The economic surplus' -- subject(s): Economic conditions, Economic development, Surplus (Economics) 'The political economy of development finance' -- subject(s): Economic policy, Fiscal policy
What has the author Worthley Dodd McCourtie written?
Worthley Dodd McCourtie has written: 'The potential role of foreign agricultural surplus in the economic development of Jamaica' -- subject(s): Surplus agricultural commodities, Economic assistance in Jamaica, Economic conditions
What is the difference between social infrastructure and economic infrastructure?
Infrastructure means the basic facilities which are necessary for the development of a nation. Economic infrastructure is the combination of basic facilities which is helpful in economic development of an economy and businesses. It includes facilities of telecommunication, electricity, transportation, energy etc. Social infrastructure is the combination of basic facilities which are necessary for human development. It includes health (hospitals), education (school, colleges etc.) and housing. Both of these infrastructures are complementary to each other and are necessary for the overall development of an economy.
Does an increase of economic surplus in a market always mean that economic efficiency has increased?
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
Distinguish between domestic and international finance?
Finance is the process of transferring fund from surplus economic unit to deficit economic unit. Domestic finance is the process of transferring fund from surplus economic unit to deficit economic unit within a country. And International finance is the process of transferring fund from surplus economic unit to deficit economic unit when any of these units is located outside a national country.
What are the nature of Economic development?
nature of economic development
What is surplus economic unit?
An economic unit having access of funds and wants to lend his funds
Which was the most direct result of the production of surplus food?
economic specializtion
Which was the most direct result of the surplus food?
The most direct result of a surplus of food is typically a decrease in prices due to an oversupply in the market. This can lead to benefits such as increased access to affordable food for consumers and potential challenges for producers due to lower revenues.
How do you calculate economic surplus?
I do not know. Try asking Jeeves.
How did ancient Mesopotamia's geography lead to its development?
The Tigris and Euphrates River valleys provided the fertile soil and water necessary to generate a surplus of food, and so sustain the growth of civilisation.
