How relevant is social trust and social capital in a democracy? Please explain.
Social trust can be described as the faith that one has on the sincerity, honesty and believing in the reliability of others while social capital can be described as the interconnection between the members of a society that ensures that the programs of the society runs effectively. This helps to promote unity and creates conducive environment for working.
What are self expression values, survival values, and secular values ? What can they be used to measure?
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Self expression values are the things that one believes are essential on the way he or she lives while survival values are the characteristics of a person that helps him or her to survive while secular values are the values that do not adhere to any religion. These values help to determine the things that a person gives priority t in life.
Please identify 3 theories and describe political ideologies that explain the optimal balance between markets and government.
Public interest theory
Critics of public interest theories
Private interest theories
When the political status of a country is stable the market does well. The political side also is responsible for setting rules and regulations governing the market
List 4 economic tools used by governments to produce outcomes from markets.
Currency inflation
Fiscal policy: interest rates
Monetary policy
4. Subsidies and tariffs
In what ways are markets reliant on governments?
It relies on the government to create a conducive environment for business.
The government has to provide security for people and goods in the market.
To ensure that there is flow of goods in the market that is constant supply.
To ensure that there is enough capital in hands of the buyers.
Please describe the path that countries are expected to follow to achieve sustained development.
First, the country needs to recognize the wants and the development they require. Second, they should come up with a good and workable plan. The third step is to allocate the necessary capital towards the listed projects. Last, the country needs to communicate the agendas for the development to the citizens. They should make sure that all the departments involved in the projects participate fully so that they have the ability to commit to accountability. In addition, the national plans should comprise all the projects not a few.
Which of the development explanation provides the most plausible theory for development? Select one of the explanation for development and argue why you believe it provides the most accurate explanation for development.
Sociological and anthropological modernization theory brings out the best explanation to development. It explains that the development of a particular country is based on the people and they are solely responsible for the changes in their society. The theory also explains that the change in technology and economy contributes to the change in the moral and cultural values.
Define corruption and explain 2 ways in which it can be damaging for human development.
It is the wrong use of a position to fraud public resources especially by those in power. Corruption reduces the capital that a government has to provide developments to the public hence reducing development and increasing poverty level. Corruption also discourages private sector development affecting the economy
In what ways does leadership matter?
Leadership is an important aspect of an organization or the government. It is responsible for planning the resources in accordance with the objectives of the organization. They also help in outlining the plans and procedures to follow to implement them.
You have been asked by the new president of your country to evaluate the current status of the country’s development. You must write a memo and explain the current status of the country from an economic perspective. Identify the measures that you would use to assess the country. You should explain the benefits and drawbacks of each measure.
The country has issues with her economy with high level of population growth established in every part of the country. The country needs to establish measures for the country to curb and establish economic growth rather than remaining stagnant. First, the growth and my government have to assess the economy and GDP of the using Per capita. This is one of the measures that describe the average income per person in a country. Its advantage is that one can be able to establish whether the population has passed the poverty line or not. However the percapita income may be high but not reflect the real lively hood of people that is only a few super rich people and many poor people. My government and the country as whole will use population growth to assess the development in a country. When an economy is doing fine there is controlled population growth. But population growth can be affected by other factors apart from development status.
