Which statements are TRUE?    A. Urbanization, when centralized, leads to migration to and congestion of centers of development. B. Underdevelopment is a point of equilibrium just as development is. C. Pareto improvement is possible in situations where better Gini coefficient already exists. D. In the process of development, pecuniary externalities can be totally avoided.

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Market Equilibrium and Failure

The economy of a country or any place depends on the market demand and market supply of goods and services.