Question

Who gave the concept of the vicious circle of poverty?

• A. Prof. Keynes
• B. Prof. Marshall
• C. Ragnar Nurkse
• D. Adam Smith

Hint:

The vicious circle of poverty suggests that poverty reinforces itself, creating a cycle that's difficult to break without intervention.

Answer 1

The Correct Option is C

Step 1: Understanding the Vicious Circle of Poverty.
Ragnar Nurkse, a renowned economist, introduced the concept of the vicious circle of poverty, which suggests that poverty leads to under-investment and low productivity, which, in turn, perpetuate poverty.
Step 2: Analysis of options.
- (A) Prof. Keynes: Keynes was an influential economist but not associated with the vicious circle of poverty.
- (B) Prof. Marshall: Marshall contributed to microeconomic theory but not specifically to the concept of the vicious circle of poverty.
- (C) Ragnar Nurkse: Nurkse is the economist who proposed the vicious circle of poverty.
- (D) Adam Smith: Smith is known for his work on economic theory but not the vicious circle of poverty.
Step 3: Conclusion.
Ragnar Nurkse is the economist who developed the concept of the vicious circle of poverty, making the correct answer (C) Ragnar Nurkse.