Comparing the cases of Brazil and Kerala, how would you characterize their different approaches to achieving economic development?
What will be an ideal response?
The main issue here is growth versus distribution. Broadly speaking, Brazil has targeted rapid growth at the expense of a highly unequal distribution of income, while Kerala has targeted poverty and basic needs, at the expense of growth.
Economics
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A farmer sells sugar to a candy producer for $150 . If the producer uses this sugar to make candy that sells for $200, what is the total contribution to GDP from these transactions?
Economics
Why is the monopolistic competitor’s demand curve more elastic than a pure monopolist’s, but less elastic than a pure competitor’s? What factors determine the price elasticity of demand for a monopolistic competitor?
What will be an ideal response?
Economics