BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The key factors that affect a country’s level of economic development include all of these EXCEPT:
|
|
Agricultural Dependency
|
|
|
Literacy Level
|
|
|
Unemployment Rate
|
|
|
Technology
|
Explanation:
Detailed explanation-1: -A country’s economic conditions are influenced by numerous macroeconomic and microeconomic factors, including monetary and fiscal policy, the state of the global economy, unemployment levels, productivity, exchange rates, inflation and many others.
Detailed explanation-2: -Economists generally agree that economic development and growth are influenced by four factors: human resources, physical capital, natural resources and technology.
Detailed explanation-3: -Economists define four factors of production: land, labor, capital and entrepreneurship. These can be considered the building blocks of an economy.
There is 1 question to complete.