Elements of Self-Sufficiency Approach. – country
should spread investment as equally as possible across all sectors of its economy
and in all regions, pace of development may be modest but system is fair because residents and enterprises share benefits of development. – incomes in country keep pace with those in city.
What are the two main problems with the self-sufficiency approach to development?
Two Major Problems with Self-Sufficiency
Companies protected from international competition were
not pressured to keep ahead of rapid technological changes
. The complex administrative system needed to administer the cntrols encouraged abuse and corruption.
What is the self-sufficiency path to development?
What are the two paths to development? Self-Sufficiency or International Trade. The Self-Sufficiency Model. In this model,
countries encourage domestic production of goods
, discourage foreign ownership of businesses and resources, and protect their businesses from international competition.
What is the international trade approach to development?
The international trade model of development calls
for a country to identify its distinctive or unique economic assets
. According to the international trade approach, a country can develop economically by concentrating scarce resources on expansion of its distinctive local industries.
Who created the self-sufficiency model of development?
Why was the Self-Sufficiency Standard developed? The Self-Sufficiency Standard was created in the mid-1990s by
Dr. Diana Pearce
, who at that time was Director of the Women and Poverty Project at Wider Opportunities for Women.
What is an example of self-sufficiency?
“A family’s ability to meet the basic needs of the members (including social, emotional, financial, medical, educational, transportation, housing, etc.) … For example,
illegal practices to secure housing
, money or transportation could be considered “self-sufficiency”.
What is the self-sufficiency model?
The self-sufficiency model, or balanced growth, says
a country should spread investment as equally as possible across all sectors of its economy and in all regions
.
Which are the 2 major lenders to developing countries?
The two major lenders are international lending organizations controlled by the MDC governments—
the World Bank and the International Monetary Fund (IMF)
. Money is also lent by commercial banks in more developed countries.
What is the biggest problem faced by LDCs in financing development?
| Question Answer | according to the international trade approach to development, a country should identify all but which of its following assets? imports to be limited | The biggest problem faced by less developed countries in financing development is? inability to repay loans |
|---|
Which of the following countries has pursued a self-sufficiency approach to development?
India and China
are examples of countries which had pursued the self-sufficiency alternative to development. substantial variations in development exist at subnational scales. their limited reserves of petroleum. The higher the GDP of a country, the more equal its income distribution.
How does international trade contribute to development?
International trade in goods and services is important for poverty eradication and sustainable development. By fostering economic growth through trade growth, international trade contributes to
addressing poverty reduction, food security, job creation, gender equality and environmental sustainability
.
What is the link between trade and development?
Trade has been a part of economic development for centuries. It has the potential to be a significant force for
reducing global poverty
by spurring economic growth, creating jobs, reducing prices, increasing the variety of goods for consumers, and helping countries acquire new technologies.
What are the different models of development?
- Several Models of Development: …
- Western Liberal Model of Development: …
- Welfare Model of Development: …
- (3) Socialist/Marxist Model of Development: …
- (4) Democratic-Socialist Model of Development: …
- Gandhian model of development is based upon the following salient features: …
- Sustainable Development:
What is a self-sufficiency standard?
The Self-Sufficiency Standard
determines the amount of income required for working families to meet basic needs at a minimally adequate level
, taking into account family composition, ages of children, and geographic differences in costs.
What does self-sufficient mean in history?
able to supply one’s own or its own needs without external assistance
: The nation grows enough grain to be self-sufficient. having extreme confidence in one’s own resources, powers, etc.: He was self-sufficient, and always reminded you of it.
What are the two paths to development?
Two Paths to Development Developing countries can choose one of two models to promote development:
self-sufficiency or international trade
.
