This is not actually Macro & Micro The class is called Economics of Essay

This is not actually Macro & Micro The class is called Economics of ontogeny Countries - Essay ExampleTo achieve the desire to maintain standard of living, the country should focus on a) train of goods and services b) individuals purchase. The growth in macrocosm along with increase in stinting growth, increase in GDP is not necessarily an indicator of improving standard of living based on per capita. The different factor, which may be taken into consideration, is the population growth, which has no twin with the economic growth. The growth of population should match with the economic growth otherwise, it definitely defeats the very purpose of improvement of standard of living of the masses. A debate prevails on the green revolution for sustainable improvement in the standard of living on the breast of accelerated population growth. The Revolutionary period of industrialization in England, cheers a vital role in increasing the per capita income by virtue of replacement of work force with the machines. If we look at the increased population of England during the era of 1700 to 1860 AD, we may find a lot about the major(ip) factors in increasing the production. The major factor of multiple production attributed to more production per worker combined with many more workers. 2. In developing countries, there may be both market trouble and the government failure. True. The market failure depends on the failure of government in wish of manning the affairs of market. Unnecessary intervention by the touch on department of the government, will complex the issues. However, the government should take note of inefficient management in respect of allocation of goods and resources. Let the market forces manage the goods and resource in an efficient manner. Hence, the incumbent(s) of government should keep him/themselves apart from intervening unnecessarily to ensure smooth function. 3. Transactions and information costs tail end prevent impelling markets in deve loping countries especially in agriculture. True. The transaction cost provides a base in the invention and impact of ICT, which has a far-reaching effect in the field of agriculture. The information system relied upon transaction costs approach. ICT can be used to cater the requirement of sustainable information thus empowers the information management. In victorious the economic exchanges, ICT is an efficient tool for the transactional efficiency. There cannot be two opinions about the impact of ICT in managing the economic exchanges on a positive note. 4. Famine is more a problem of distribution than supply. False. At the clip of famine, Government of Bengals strategy in line with Sen.s philosophy was laudable. Well known Indian economist Sen., a noble laureate in Economic Science was keen in firmness of purpose the problems of down trodden. He was famous for his work on the causes of famine that provides practical solutions to prevent and limit the finish up impact of short ages of food. Inability is to purchase food by the poor caused starvation. The starvation has nothing to do yet with distribution and supply system only. Price control committee can control price to organize it accessible to the general consumers and to prevent other market players to skim off more than their fare share. Further, popular welfare scheme and supply of food through public distribution channel can play an effective role to lessen the gravity of famine. In addition, some degree of rationing under the mentioned scenario was desirable. conjecture and hoarding were two main factors of the famine. To provide population, the