What is a depression?

Depression is a mood disorder that causes a persistent feeling of sadness and loss of interest. Also called major depressive disorder or clinical depression, it affects how you feel, think and behave and can lead to a variety of emotional and physical problems….

What are the 3 core values of development?

There are three core values of development: (i) sustenance, (ii) self- esteem, and (iii) freedom. Sustenance: Sustenance is the ability to meet basic needs of people.

What is the plan of development in an essay?

The plan of development consists of the three topics that you will address in your body paragraphs. Often, research paper writers will include the plan of development in their thesis statement. Example: The Plan of Development acts as a map for your paper, and forms the basis of the research outline.

What causes Businesscycle?

The business cycle is caused by the forces of supply and demand—the movement of the gross domestic product GDP—the availability of capital, and expectations about the future. This cycle is generally separated into four distinct segments, expansion, peak, contraction, and trough.

What is the importance of economic development?

Economic development is a process of targeted activities and programs that work to improve the economic wellbeing and quality of life of a community by building local wealth, diversifying the economy, creating and retaining jobs, and building the local tax base….

What are the 3 levels of economic development?

The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary).

What are the 4 causes of inflation?

Demand-Pull Inflation, Cost-push inflation, Supply-side inflation Open Inflation, Repressed Inflation, Hyper-Inflation, are the different types of inflation. Increase in public spending, hoarding, tax reductions, price rise in international markets are the causes of inflation. These factors lead to rising prices.

What is the best definition of development?

Development is a process that creates growth, progress, positive change or the addition of physical, economic, environmental, social and demographic components.

Why is it important to know the different phases of development?

Answer. Answer: it is important cause As they grow up, children develop many different capacities. These capacities influence how they communicate, make decisions, exercise judgement, absorb and evaluate information, take responsibility, and show empathy and awareness of others….

What are the stages of development of a country?

Using these ideas, Rostow penned his classic Stages of Economic Growth in 1960, which presented five steps through which all countries must pass to become developed: 1) traditional society, 2) preconditions to take-off, 3) take-off, 4) drive to maturity and 5) age of high mass consumption.

How does inflation start?

Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. A surge in demand for products and services can cause inflation as consumers are willing to pay more for the product….

What are the 5 causes of the business cycle?

Causes of the business cycle

• Interest rates. Changes in the interest rate affect consumer spending and economic growth.
• Changes in house prices.
• Consumer and business confidence.
• Multiplier effect.
• Accelerator effect.
• Lending/finance cycle.
• Inventory cycle.
• Real business cycle theories.

What are the four stages of economic development?

The four stages of the economic cycle are also referred to as the business cycle. These four stages are expansion, peak, contraction, and trough. During the expansion phase, the economy experiences relatively rapid growth, interest rates tend to be low, production increases, and inflationary pressures build.