Balanced growth strategy/theory
- A balanced development strategy involves the simultaneous allocation of resources in all sectors of the economy so that all sectors grow at the same pace and complement each other in terms of market and supply of raw materials. It calls for a balance between consumer and capital goods, industry and agriculture, production for domestic markets and for exports etc.
- According to the theory, there must be critical minimum effort. This refers to a certain minimum level of investment capital required to ensure simultaneous and harmonious development of all sectors and sub-sectors of the economy after which they become independent and self-sustained.
CATEGORIES Economics
TAGS Dr. Bbosa Science
