--%>

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 : Who define economics as a subset of

    Economists who viewed economics like a subset of jurisprudence combined: (1) John Stuart Mill. (2) Alfred Marshall. (3) Karl Marx. (4) William Stanley Jevons. (5) Adam Smith. Hey friends please give your opinion fo

  • Q : Equilibrium market rate & Undervalued

    Question: a. In the short-run, it is easier for a country to maintain a peg that undervalues a currency (relative to the equilibrium market rate) than it is to maintain a peg that overvalues the currency (relative

  • Q : Business Strategies Cingular and Alltel

    Cingular and Alltel involve in aggressive and expensive advertising for cell-phones. A reason for this advertising may be: (1) attempts to increase market share. (2) predatorily drive other firms by the market. (3) to increase the use of cell phones.

  • Q : Contestable Markets The least probable

    The least probable of the given industries to be a contestable market is: (1) video rentals. (2) pizza delivery. (3) cable television. (4) trucking. Can someone explain/help me with best solution about problem of <

  • Q : Market structure and pricing decision

    Just need help to see if I am in the right direction if there any think wrong need help with it.

  • Q : Decentralized a virtue of capitalism

    The idea which a virtue of capitalism is decentralized its decision making emerged while: (1) social philosophers looked for alternatives to feudal kings like economic regulators. (2) Russian imperialism fostered anti-communist sentiment after World W

  • Q : Describe unequal burdens of

    Describe unequal burdens of unemployment exist?

  • Q : Introduction of the term Cost of

    Give a brief introduction of the term Cost of retained earnings?

  • Q : Fixed costs and Variable cost

    Questions: 1: Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

    Q : Demand supply with the aim of diagrams

    with the aim of diagrams show the difference between A change in demand and A change in quantity demand