--%>
Assignment Help - homework help

Meaning of Economic Development

Question

Discuss what "economic development" means in the context of this game? (Hint: How do you win, and what do you have at the end of the game that you did not have at the beginning of the game?)

Answer

Economic development happens whenever there is sustained growth by planned policymaking leading to an inclusive and all round uplifting of the standard of living. In the context of the game, development happens whenever roads, cities, settlements or ports are built. Now, in order to so and make the development progress on the desired line, the planning by the player is of utmost importance. It also depends upon the judicious use of resource cards and victory points. Furthermore, it is the responsibility of the player to keep track of what is required to keep the development of his hex all round. This includes smart and planned use of the bank to get resources which are required. So there is not point keeping the resources which are not required and not exchanging them with the bank to obtain the resource actually required. Also, trade with other players is important. By trading the player can obtain desired resources from the other player.

Now, by planning the development of the hex properly and keeping an eye on the number of VPs obtained and the requirements for obtaining additional VPs; the player can move towards victory. Here, 10 VPs mean victory. This implies that winning or obtaining 10 VPs is a symbol of victory. Therefore, by developing his region by efficient use of resources and utilizing the available media of exchange effectively; a player can earn more VPs and hence win, leading to economic development.

   Related Questions in Business Economics

  • Q : Calculate Equilibrium Quantity and Price

    1. The owner of a firm calculates that next year's profit will be $1,000. Each successive year profit will increase by 10% (i.e. year 2: $1100; year 3: $1210 and so on.) At the end of the 5th year the firm could be sold for $20,000. A) if the appropriate di

    		•
  • Q : Competitive market economy will make

    Briefly explain how the competitive market economy will make the needed adjustments to reestablish an efficient allocation of society’s scarce resources?

    		•
  • Q : Importance of Economics Importance of

    Importance of Economics:Economics has become one of the major branches of social sciences. This is of enormous practical value in our day by day life. In pure sciences, we study the subject

    		•
  • Q : Important source of revenue and major

    What is the most important source of revenue and the major type of expenditure at the Federal level?

  • Q : Elucidate state expenditures and

    Elucidate state expenditures and receipts for all states in 1998?

    		•
  • Q : Define condition when one gain unless

    When no one can gain unless someone else loses, in that case current arrangements are: (w) economically efficient. (x) not optimal. (y) inequitable. (z) the best cure for scarcity. Can someone explain/help me with best solution abo

    		•
  • Q : Distinguish between the resource market

    Distinguish between the resource market and product market in the circular flow model.  In what way are businesses and households both sellers and buyers in this model?  What are the flows in the circular flow model?

    		•
  • Q : Determine relative price when two

    When the prices for doughnuts and croissants are $.50 and $1 correspondingly: (w) the opportunity cost for one doughnut is two croissants. (x) this is better to buy two doughnuts than one croissant. (y) one croissant will make Pierre twice as happy as one doughnut. (z

    		•
  • Q : Describe the Promoting stability

    Describe the Promoting stability?

    		•
  • Q : Public policies for low-income Fuel

    Fuel stamp programs which subsidize heating oil purchases through low-income households encourage those families to: (w) create more income by working. (x) particularly conserve on their use of fuel. (y) live along with less purchasing power. (z) subs

    		•