Economics answers needed as per the images attached
0111 Read the following passage and answer the question given below:- Many obstacles to economic growth are related to an inadequate infrastructure. Sanitation and basic medical programs,' education, irrigation and soil conservation projects, and construction of transportation linlm and communication facilities are all essentially nonmarketable goods and services that yield widespread spillover benets. Government is the only institution that is in a position to provide public infrastructure. But it need not do all the work through government entities. It can contract out much of the work to private enterprises. With respect to both private and public inasn'ucuue. Developing Country's have an unexpected advantage over more deveIOped countries, because they can act as follower countries when it comes to technology. on economic growth, DC's can siniply adopt technologies that were developed at high cost in the more technologically advanced leader countries without having to pay any of the development costs of those technologies. DC's can often jump directly to the most modern and highly productive infrastructtue without going through the long process of development and replacement. As a good example, many DCs have developed Internet-capable wireless phone networks instead of using their scarce resources to build and expand landline systems. Other things equal, open economies that participate in international trade grow faster than closed economies. Also, DCs that welcome foreign direct investment enjoy greater growth rates than DCs that view such investment suspiciously or even as exploitation and therefore put severe obstacles in its way. Government programs that encourage literacy, education, and labor market skills enhance economic growth by building human capital. In particular, policies that close the education gap between women and men spur economic growth in developing countries. Promoting the education of women pays o' in terms of reduced fertility, greater productivity, and greater emphasis on education of children. And government is in a position to nurture the will to develop, to change a philosophy of \"Heaven and faith will determine the course of events" to one of \"God helps those who help themselves.\" That change encourages personal educational attainment and enhanced human capital. The lack of a sizable and vigorous entrepreneurial class, ready and willing to accumulate capital and initiate production, indicates that in some DCs private enterprise is not capable of spear-heading the growth process. Government may have to take the lead, at least at rst. But many DCs would benet by converting some of their state enterprises into private rms. 1/2 State enterprises often are inefficient, more concerned with providing maximum employment than with introducing modern technology and delivering goods and services at minimum per- unit cost. Moreover, state enterprises are poor "incubators" for developing profit-focused, entrepreneurial persons who leave the firm to set up their own businesses. Answer the following question:- a) Critically analyse the role of Government in developing countries. b) What are the drawbacks of State enterprises? Qn 2 a) Price is not the only factor for determining the demand for a product , if so what are the other factors? b) Describe the demand schedule and draw the demand curve as per law of demand. Qn 3 a) What is meant by perfect competition in a market? What are its features? b) Explain how monopoly is an imperfect competition? On 4 a) Steel sector is important for the construction activity. Explain its role. b) Make a SWOT analysis of steel industry in India. 2 /2
