ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Countries with a high literacy rate usually have a high GDP per capita. Nations with low GDP frequently have lower literacy rates since the people in that country have less access to education, and children often have to work to help support the family.

Detailed explanation-2: -As Peter Voser explains in his opening message to this report, Energy: The Oxygen of the Economy, “Without heat, light and power you cannot build or run the factories and cities that provide goods, jobs and homes, nor enjoy the amenities that make life more comfortable and enjoyable.”

Detailed explanation-3: -Now, major economic activities include agriculture, industry, forestry, and mining. In 2016, four countries, which include Brazil, Ecuador, Argentina and Venezuela experienced decline in output. Other countries in the region were observing slowdown in growth rates.

Detailed explanation-4: -In 2020, Venezuela was the country that had the lowest economic freedom score. With a score of only 3.32 the country is far behind the second lowest scoring country, Sudan with 4.21. Zimbabwe and Syria can also be found at the bottom of the list with a score of 4.48 and 4.63 respectively.