Development economics must have a scope wider than traditional economics because
A)values and attitudes play little role in the pace of development.
B)people in developing societies do less utility-maximizing.
C)transformation of social institutions is necessary for development.
D)all of the above.

Question

Quizplus · Accepted Answer

Transformation of social institutions is a critical aspect of development in developing societies, which goes beyond the traditional economic focus on markets and efficiency. This includes changes in legal, political, and social frameworks that enable economic growth and development.

Development Economics Must Have a Scope Wider Than Traditional Economics