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Nature and Scope of Statistics for Economics - Class XII
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A pattern of low income and low economic growth which tend to perpetuate itself is known as ________.
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A
vicious circle of under-development
💡 Explanation:
The vicious circle of underdevelopment is a concept in development economics describing how low income leads to low savings, low investment, and low growth, which keeps the economy in a state of underdevelopment.