Modernisation theory is the theory used to explain how society evolves and progresses. This theory places a lot of emphasis on the type of modernisation

The process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of

A set of policy tools and institutions through which a government provides money and controls the money supply in an economy. (source: http://en.wikipedia.org/wiki/Monetary_system)

An economy in which decisions regarding investment, production and distribution are based on supply and demand, and prices of goods and services are determined in

The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. (source: http://www.thefreedictionary.com/macroeconomic)

A particular kind of commercial enterprise. (source: http://dictionary.reference.com/browse/line+of+business)

Liberalization, or liberalisation, refers to a relaxation of previous government restrictions, usually in areas of social or economic policy. In some contexts this process or

A country which, according to the United Nations, exhibits the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries