According to Professor Nurkse, how does capital formation contribute to the economic development of underdeveloped countries?

Capital formation leads to higher levels of inflation and balance of payments issues.

Capital formation helps break the vicious circle of poverty in underdeveloped countries.

Capital formation results in increased dependence on foreign capital.

Capital formation has no significant impact on economic development.

What is the primary difference between capital and capital formation?

Capital refers to physical assets, while capital formation involves the process of creating financial assets.

Capital includes both physical and financial assets, while capital formation focuses on increasing the stock of physical assets.

Capital refers to money, while capital formation refers to the process of generating income.

Capital and capital formation are synonymous terms.

What is the significance of technology in economic growth?

Technology has no impact on economic growth.

Technology complements capital but is not essential for economic growth.

Technology is a basic tool for economic development and complements capital.

Technology can replace the need for capital in economic development.

How does technology improve the utilization of natural resources?

Technology depletes natural resources faster.

Technology has no impact on the utilization of natural resources.

Technology helps utilize natural resources more effectively.

Technology has no relation to natural resource utilization.

What impact does technology have on the quality of goods and services?

Technology has no effect on the quality of goods and services.

Technology lowers the quality of goods and services.

Technology improves the quality of goods and services.

Technology increases the cost of goods and services.

How does technology contribute to the expansion of industries?

Technology increases the cost of production, limiting industry expansion.

Technology has no influence on the expansion of industries.

Technology reduces the cost of production, facilitating industry expansion.

Technology leads to the shutdown of industries.

What effect does technology have on labor efficiency?

Technology decreases labor efficiency.

Technology has no impact on labor efficiency.

Technology improves labor efficiency.

Technology leads to the elimination of labor.

How does technology impact the saving of labor?

Technology increases the burden of work on labor.

Technology has no effect on the labor workload.

Technology reduces the burden of work on labor by saving time.

Technology eliminates the need for labor.

How does technology impact international trade?

Technology has no influence on international trade.

Technology limits the expansion of international trade.

Technology has revolutionized international trade by expanding markets through the internet.

Technology increases trade barriers.

Why is technology important for research?

Technology has no relevance in research.

Technology increases the cost of research.

Technology enables significant investments in scientific research.

Technology hinders the progress of research.

Basic Issues in Economic Development- 1 Free MCQ Practice Test with Solutions

	Indian Economy 46 videos\|48 docs\|23 tests

	Indian Economy 46 videos\|48 docs\|23 tests

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