OECD stands for ?

The essential difference between capitalism and socialism is that ?

A. capitalism exploits the worker and socialism exploits the property owner

B. capitalism relies on the market to make economic decisions and socialism uses central planning

C. capitalism grows through rent seeking and socialism grows through government direction

D. capitalism relies on consumer satisfaction to dictate choices and socialism relies on producer satisfaction

What is Baran’s explanation for underdevelopment in Asia, Africa, and Latin America ?

A. monopolistic business from abroad

B. reactionary ruling coalitions

C. weak domestic middle class

D. All of the above

For Rosentein Rodan a major indivisibility is in ?

A. Supply

B. infrastructure

C. agriculture

D. services

The Vicious circle theory indicates that ?

A. a country is poor because it has lower productivity but high savings

B. as countries grow richer they save less

C. poverty perpetuates itself in mutually reinforcing circles on supply and demand sides

D. market size is large in LDCs

Feudalism was undercut by?
I- the migration of serfs to the town
II- factory competition with handicraft and manorial production
III- expanded transport trade, discovery and new international markets
IV- the rise of the business corporation

A. I and II only

B. II and III only

C. I, II and III only

D. IV only