Ans.to the question no.1
Economy is central to an understanding of the problems because economy gives us a clear view about the problems ,related to economic development such as problems of widespread poverty, rising unemployment, extreme income inequality etc.
Ans.to the question no.2
The concept of the developing world is useful to identify the difference between the development and undevelopment.Developing countries are countries which have not achieved a significant degree of industrialization relative to their population and which have in most cases a medium to low standard.
Ans.to the question no.5
A strictly economic definition of development is inadequate because country may experience rapid economic growth for a long period of time but at the same time it may also faces problems of development.
Economic development is associated with some situations like high production, full potentiality, high per capita income, industrialization etc.
Brazil presents a classic example about problems associated with development.. Over the past few decades Brazil has experienced rapid economic growth, Industry has been the greatest contributor to Brazil’s economic growth. Besides Brazil remains the world’s largest exporter of coffee and second largest exporter of cocoa and soyabeans.But at the same time it is facing the problem of widespread poverty, rapid inflation rate. Moreover the country also had to borrow a large sum of amount from private commercial banks and World Bank and Tariffs on imports are still relevantly high in Brazil. Due to these economic problems though Brazil is a developed country still it is underdeveloped.
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