--%>

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 : Drawbacks of capital budgeting Write

    Write down the drawbacks of capital budgeting?

  • Q : Factors of account since the Second

    For rapid growth of world trade what are the factors of account since the Second World War?

  • Q : Limitations of activities to generate

    Illustrations of activities which generate negative externalities would not comprise: (w) burning coal that results in acid rain. (x) smoking a cigar at the opera. (y) killing fish by dumping sewage into a river. (z) being inoculated against a contagi

  • Q : Principle of comparative advantage When

    When Gene can make three pairs of cowboy boots per week or one saddle whereas Roy can make either two pairs of boots or two saddles, Gene will form boots whereas Roy makes saddles according to the: (i) Law of Occam’s Razor. (ii) Principle of comparative advantag

  • Q : Introduction of the term Control Factor

    Give a brief introduction of the term Control Factor?

  • Q : Describe the term Cost of debt Briefly

    Briefly describe the term Cost of debt?

  • Q : Utility with food coupons Question: In

    Question: In Vancouver the Salvation Army encourages people to make food voucher donations to panhandlers instead of simply giving them cash. You can buy a food voucher for $5 and give it to a panhandler who can use it to purchase food. The Sa

  • Q : Transfer income in national income Is

    Is transfer income involved in national income? Explain Why? Answer: No, since transfer income does not effect in the production of services and goods.

  • Q : Depreciation of the euro change the

    If the European euro declines in value (depreciates) in the foreign exchange market, would it be easier or harder for the French to sell their wine in the United States?  Suppose you were planning a trip to Paris.  How would the depreciation of the euro chan

  • Q : What is the opportunity cost of your

    Suppose you arrive at a store expecting to pay $100 for an item, but learn that a store two miles away is charging $50 for it.  Would you drive there and buy it?  How does your decision benefit you?  What is the opportunity cost of your decision?  Now suppose you arrive at a s