What are the assumptions of lewis ldcs less developed, Ask an Expert

Economics

What are the assumptions of Lewis?

LDCs (Less Developed Countries) have two (dual) economies as:

• Rural traditional economic and social practices, which overpopulated, subsistence along with zero marginal labour productivity

• Urban: modern economic and social practices, along with high marginal labour productivity.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9580076

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