Topics to elaborate: Economy (Economy stability/Managing economy resources...

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Topics to elaborate: Economy (Economy stability/Managing economy resources effectively/Unemployment/Good control system): Social (Education/Income/Health/) :Political (Stability/Educated Politicians/'People Come First' Attitude in politician/Law and regulations (500 words). Please help.

David · Accepted Answer

What do you think needs to be developed in developing countries? 
The distinction between a underdeveloped, developing and highly developed nation is based on per capita GDP levels. A developing nation occupies the ‘middle’ position in GDP hierarchy. To raise its levels more the economy faces tough choices. 
These choices come in two forms. One is a ‘positive; choice that is quantifiable—what must be the level of GDP to target. This is often dependent on a variety of factors like savings rate and level, consumption and gvt spending, capital availability, existing capacity levels and many interrelated economic variables.  The target levels of these variables can be quantified using a series of general equilibrium models and assumptions regarding the path and rate of growth chosen. The latter choice brings us to the second type of choice that an economy needs to make.  An example is the choice between growth and equality.

Topics to elaborate: Economy (Economy stability/Managing economy resources effectively/Unemployment/Good control system): Social (Education/Income/Health/) :Political (Stability/Educated...

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