Why is an understanding of development crucial to policy formulation in developing nations? Do you think it is possible for a nation to agree on a rough definition of development and orient its strategies accordingly?
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Answer:Examples of economic policies include decisions made about government spending and taxation, about the redistribution of income from rich to poor, and about the supply of money.(a) Social Policy is one of the major components of the Economic Policy
(b) The Social Policy and the Economic Policy are inter-related
(c) The Economic Policy is the integral part of the Social Policy
(d) Social Policy and Economic Policy are separate and each have no relation with the following it
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