4438896
Description
Mind Map by Ayman Shaukat, updated more than 1 year ago
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Created by Ayman Shaukat
almost 9 years ago
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Agricultural Reform
- Commune system replaced HRS
- Sell surplus in the free market after state quota was met
- Led to an
incentive
effect where
there
surpluses in
income and
food
- This means more development in human and physical capital (through more food supply)
- More investment through VTEs and more consumption as disposable income rises
- Increases to AS and AD and subsequent increases in growth and GNI/capita
- Increases to standards of living and development as a result
- Increases to standards of living and development as a result
- Increases to AS and AD and subsequent increases in growth and GNI/capita
- More investment through VTEs and more consumption as disposable income rises
- This means more development in human and physical capital (through more food supply)
- Led to an
incentive
effect where
there
surpluses in
income and
food
- Sell surplus in the free market after state quota was met
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