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ECONOMIC DEVELOPMENT Reference: https://drive.google.com/file/d/13asQeiyALcTJFWJKe_Ohpinb_hxSLfFW/view?usp=sharing 1. Social and institutional innovations are as important for economic growth as technological and scientific inventions and innovations. What is meant

ECONOMIC DEVELOPMENT

Reference: https://drive.google.com/file/d/13asQeiyALcTJFWJKe_Ohpinb_hxSLfFW/view?usp=sharing

1. "Social and institutional innovations are as important for economic growth as technological and scientific inventions and innovations." What is meant by this statement? Explain your answer.

2. Explain purchasing power parity with sample computation.

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