Economics · Theories of Economic Growth
Balanced and Unbalanced Growth theories differ in their approach to economic externalities and market complementaries. Which of the following statements is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Nurkse's balanced growth theory targets simultaneous expansion of mutually supporting industries to overcome market size limitations✓
- 2Hirschman's unbalanced growth theory advocates simultaneous equal growth in all sectors to prevent bottlenecks
- 3Balanced growth theory focuses exclusively on export-led development to bypass domestic demand
- 4Both balanced and unbalanced growth theories completely reject the existence of complementarities among different sectors
Correct answer
Nurkse's balanced growth theory targets simultaneous expansion of mutually supporting industries to overcome market size limitations
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