Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
ECON3509
| Question | Answer |
|---|---|
| What is development? | It is normally viewed as a process of change in society associated with perceived benefits to people |
| Why is it difficult to impose development plan from one region to another? | Because development is also unique, diverse and complex under different situations and therefore influenced by several specific factor. |
| What is Sustainable development? | The management and conservation of resources to ensure the satisfaction of the human needs for present and future generations. |
| How to measure development? | Traditional – GDP/GNI, Human Development Index, Gender inequality Index (GII), Gender development index (GDI), and Multidimensional Poverty Index (MPI) |
| What is development planning? | 1)Strategy to achieve a development objective 2)planning of any organised activity that aims at promoting development 3)Emphasizes relationship between means and ends |
| What is the nature of Development planning? | Comprehensive and Partial Plan |
| What is a Comprehensive Plan? | A plan that covers all sectors of economy |
| What is a Partial Plan? | A plan that covers one sector of economy |
| What is the three types of Development planning? | Economic, Social and Environmental |
| Concepts of project evaluation | Complexities and Components in Planning mixed economies eg. mobilizing scarce resources, gov policies and regulations |
| What is the rationale for Development planning | Market failure, resource mobilization, attitudinal and foreign aid. |
| What are the components of development planing? | Objective, Context(Environment) and Capabilities(required resources) |
| What is the concept of development planning in project cycle? | Identify the issue - stetting objectives - identify active programs - evaluate - measure performance - implement program - analyse potential impacts. |
| What is the three types of planning models? | Aggregate growth model, Multi-sector model and Cost benefit Analysis |
| What is the cause of Development Plan failure? | Deficiencies in plans and implementation, Insufficient and unreliable data, External and internal factors – Economic disturbances, Institutional weaknesses and Lack of political will. |
| When is the market is said to be Efficient in resource allocation? | In a competitive market, the private market is said to be effective in allocating resources efficiently |
| What are the two theories of welfare economics | Under certain conditions an economy in competitive equilibrium is said to be pareto-efficient and Under certain conditions, pareto-efficient resource allocation can be attained through market mechanisms without government intervention. |
| What are sources of Market inefficiency? | Non-competitive market, Presence of externalities, Public goods, Incomplete markets, Equity Issues and Merit Goods. |
| What are the sources of deficiencies in planning? | Theory vs. Practice, Overambitious plans, Insufficient and unreliable data, Unanticipated external and internal economic disturbances, Institutional weaknesses, Lack of political will, Conflict, post-conflict and fragile states and Corruption |
| What is the role of NGOs in Development? | Promote values and to further social and economic development |
| What are Key characteristics of NGOs? | More innovative in dealing with poverty and inequality, Program flexibility, Specialized technical knowledge, Targeted local public goods Common Property resource management, design and implementation Trust and credibility and Representation and advoca |
| What is voluntary failure of NGOs? | Inability to efficiently achieve social objectives |
| Why do voluntary failure of NGOs occur? | Insignificant due to limited resources or size and reach, Dictated by the goal of funders rather than intended beneficiaries, Inadequate checks and balances. |
| What is Project Evaluation? | Process of collecting, organizing and analyzing information about project feasibility or project results |
| What is the rationale of Project Evaluation? | Response to demands for accountability, demonstrate the effective and efficient use of resources, Demonstrate predicted or actual changes and progress, and identify success factors, need for improvement or where expected out |
| What is the purpose of Project Evaluation | Assist in decision-making, select projects or program or policy options that will maximize profits and welfare. |
| Why Project Evaluation necessary? | Limited resources |
| What is the Private Project Evaluation aim? | maximization of profits |
| What is the Public Project Evaluation aim? | maximization of social benefit |
| What is Cost benefit analysis? | Empirical test for Potential Pareto- improvement (PPI) |
| What is the two dimensions of cost benefit? | The total benefits and cost of a given action and How are those benefits and cost distributed in society |
| What is Opportunity cost concept for social project evaluation? | It is the value society place on a given good or service diverted to another product |
| What is Shadow Pricing? | The price of a good that is more economically appropriate than the existing price. Sometimes used to reflect opportunity cost |
| What is the relationship of Shadow wage rate and Opportunity cost of labor? | In a competitive market, the wage rate will represent the true opportunity cost of labor. |
| What is the result of government intervention to the wage rate and opportunity cost? | The wage rate may become inappropriate measure of opportunity cost. |
| What is the shadow rate of labor in a condition of widespread unemployment? | Zero |
| What is the shadow rate of labor equal to in the labor market? | Marginal product or marginal output of labor, other things equal or ceteris paribus. |
| What are the reasons for non-zero shadow wage rate? | When a job is created in one location causing more than one person to move to that location creating forgone production and There may be a reservation wage. |
| What is a reservation wage? | The current income situation plus value of leisure and other nonwage activities |
Created by:
heshamellisy
Popular Economics sets