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Explain Rostow's Stages of Economic Growth.
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It views development as progressive stages from traditional societies to high mass consumption.
Describe Industrial Policies and Economic Restructuring.
These are shifts in economic strategies within a country to stimulate growth, often leading to changes like deindustrialization or increased service-oriented jobs.
How did the Industrial Revolution lead to population increase?
It led to better food production through modern agricultural techniques.
What principle does Comparative Advantage encourage?
It encourages countries to produce goods/services they can efficiently produce.
What were some significant changes catalyzed by the Industrial Revolution?
Economic production changes, city structures alterations, class systems shifts, and global imperialism impacts.
Explain the connection between Gender Parity and Economic Development.
It relates to the role and treatment of women in society impacting economic development.
What are UN's Sustainable Development Goals (SDGs) aimed at?
They are aimed at tackling global issues like inequality, health, and environmental sustainability.
Name and describe the sectors of the economy.
Primary sector (raw material extraction), Secondary sector (manufacturing and processing), Tertiary sector (service-oriented), Quaternary and Quinary sectors (knowledge-based and decision-making roles).
What are Microloans and Microfinancing?
Small loans given to entrepreneurs in developing countries to decrease poverty.
How does globalization impact labor, production, and cultural exchanges?
It pushes towards a more interconnected global economy, influencing labor markets, production processes, and cultural interactions.
What are Neoliberal policies promoting?
They promote free-market capitalism and reducing trade barriers.
What is a 'Break of Bulk Point'?
A location where transport modes change and goods are transferred.
What does Weber's Least Cost Theory focus on?
It focuses on minimizing production costs to maximize profitability, considering transport costs, labor costs, and agglomeration benefits.
What is emphasized in Wallerstein's World Systems Theory?
It emphasizes the effects of global capital on different regions through the core-periphery model.
What does Dependency Theory focus on?
It concerns how developing countries depend on developed countries.
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