Developing Process and the choice of Development Strategy covers Transition from subsistence production to production for the market. The problem of a widening gap between the subsistence and monetary sectors. Agriculture versus industrial development strategies. Labour versus capital intensive strategies. The role of intermediate technology and small scale industry. W.W. Rostow's stages of economic development. The need for foreign aid as a source of development finance and its disadvantages. The utilization of national resources and capital. The importance of basic economic institutions, e.g. development banks, cooperatives, etc. The relationship between development strategy, goals and development and resource endowment. The role of education in the economic development process.