Economics, Paper II

Economic development does not simply raise the community to a higher level of economic wellbeing but reorganize the society from within. Define economic development in the light of above statement. Show how it can be measured?

What is inescapable is a change or an effective planning. Surplus Labour hidden capital and mobility of resources cannot be increased a great deal without welwoven planning. Give a critical evaluation of planning experience in Pakistan.

Agriculture stimulate Industrial Sector, and through effective International Trade can earn Substantial Foreign exchange. In the absence of agriculture tax and value added tax which remain one of the most useful Fiscal Instrument at the disposal of a conscious state for raising funds for agriculture development projects. Give a critical review of agricultural policies.

Dr. KUZNETS writes that the major stock of a nation is not its physical equipments. The essential investment is largely in human beings and not in sticks and stones. Unless human Capital efficiently developed, tangible results in industrial development can not be realized. Discuss in detail.

Small and medium type business get easy access to the funds, have tremendous potentials of growth and contribute a lot to the society. Provided they extend a needed service, charge reasonable price and do it well. Signify the role of medium type business for economic development.

The only remedy is to privatize public sector projects as quickly as possible, so that funds are made available at a competitive rates to competitive projects. Let visions and ideas come from the state so that private initiative can be educated to constitute and flourish. Discuss.

To be competitive, organizations have no choice, but to use the management concept and techniques to innovate and to lead to new challenges. Signify the direction of trade and trends in Pakistan's major exports and imports.