Ird 103: Development Concepts And Applications Question Paper
Ird 103: Development Concepts And Applications
Course:Bachelor Of Arts In Economics
Institution: Rongo University question papers
Exam Year:2017
Answer question one and any other three
1.a.Define
National development (3mks)
Sustainable development (3mks)
Economic development (3mks)
b.Explain the meaning of invisible hand of the market (6mks)
c.Distinguish between modernization theory and national development (4mks)
d.Discuss broad objectives of economic growth according to Adam Smith (6mks)
2.a.Explain the three major challenges in an economy (10mks)
b.Demonstrate the difference between merchant capitalism and colonialism (5mks)
3.Explain five tenets of economic growth according to Adam Smith (15mks)
4.a.With the help of a diagram ,'explain the slow growth model'(10mks)
b.Differentiate modernization from economic development (5mks)
5.Discuss the following (15mks)
a.Keynesian growth theory
b.Neo-liberal growth theory
c.Popular development
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