ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Tertiary; the need for services is greater in poor countries
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Secondary:developed countries send their manufacturing industries overseas.
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Primary:a country’s resources are being used up as it develops
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Primary:technology makes these jobs more efficient so fewer workers are needed
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Secondary:as a country’s wealth increased, fewer factories are needed.
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Detailed explanation-1: -The most common include high population growth rate, low GDP per capita, and high poverty rates. These features lead to poor economic development.
Detailed explanation-2: -Broadly speaking, there are two main sources of economic growth: growth in the size of the workforce and growth in the productivity (output per hour worked) of that workforce. Either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income.
Detailed explanation-3: -Furthermore, developing new industries in these countries would increase their export levels, boosting growth in the economy. As a result, Western countries play an important role in assuring emerging countries’ economic progress through free trade, education, and industrialization.
Detailed explanation-4: -Soaring debt. Export marginalization. Energy poverty. Climate vulnerability. 04-Apr-2022