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How resources affect the development process?

How resources affect the development process?

Answer: Explanation: The quantity and availability of natural resources affect the rate of economic growth. The discovery of more natural resources, such as oil or mineral deposits, will give a boost to the economy by increasing a country’s production capacity.

How does financial resource increase the speed of development?

Financial system promotes capital market. A dynamic capital market is capable of attracting funds both from domestic and abroad. With more capital, investment will expand and this will speed up the economic development of a country.

Why are many countries in the world not developing cite concrete examples?

Economic factors – some countries have very high levels of debt . This means that they have to pay a lot of money in interest and repayments and there is very little left over for development projects. Environmental factors – some places experience environmental issues, which can prevent them from developing.

What are the major problems faced by developing countries in promoting their exports?

Problems of Foreign Trade Faced by Developing Countries

  • Primary Exporting:
  • Un-Favourable Terms of Trade:
  • Mounting Developmental and Maintenance Imports:
  • Higher Import Intensity:
  • BOP Crisis:
  • Lack of Co-ordination:
  • Depleting Foreign Exchange Reserve and Import Cover:
  • Steep Depreciation:

Which is most challenging for developing countries?

large aging populations economic and employment issues social and environmental issues outsourcing of jobs to nearby areas.

What are the major hurdles in the development of developing countries?

Some important social and political hurdles include: large growing populations, gender inequality and corrupt and inefficient governments. Economic and financial hurdles include: a lack of capital investment, a crushing level of debt, poor terms of trade and inadequate technology.

Why do countries face obstacles to development?

Why Do Countries Face Obstacles to Development? Barriers limit the import of goods from other places. Investment spread almost equally across all economic sectors and in all regions of a country. Minimalized discrepancies in wages among urban and rural dwellers with the intent to reduce poverty.

What four different factors does the UN consider when determining a country’s level of development?

What four factors does the UN consider when determining a country’s level of development, its HDI? One economic factor, two social factors, and one demographic factor. What is the highest rank for HDI?

What are two principal ways in which LDCs obtain money to finance development?

FINANCING DEVELOPMENT 5. What are the two principal ways in which LDCs obtain money to finance development? 1) Direct investment by transnational corporations 2) Loans from banks and international organizations 6.

Does the WTO seek to eliminate restrictions on the flow of money between countries?

The WTO was formed by countries that conduct the majority of international trade. The WTO seeks to increase import quotas and reduce import and export tariffs. The WTO seeks to eliminate restrictions on the flow of money between countries. Though it can hear accusations, the WTO cannot order remedies.

Why is structural adjustment programs unpopular with citizens in LDCs?

Why is this unpopular with citizens in LDCs? They think poverty worsens under a structural adjustment program because it results in cuts in health, education, and social services.

In what four countries are most transnational corporations headquartered?

Most TNCs are headquartered in the United States, the European Union or Japan – the so-called Triad, which also accounts for the largest share of foreign direct investment worldwide. The United States is home to the largest number of TNCs (11), followed by France (8), Germany (8), the United Kingdom (7) and Japan (4).

What is the role of raw materials in development?

Raw materials play an important role in the production process to a great extent as the success of the economy of a country is determined by the amount of natural resources held by a country within its borders. A country holding ample amount of natural resources does not require importing of as many raw materials.

How many years of schooling does a person get in an average MDC?

10

What steps must countries take to transition?

They must decrease private ownership. They must establish a fair labor market. They must discourage foreign investment. They must open up trade to other countries.

What steps must countries take to transition to mixed market economy Check all that apply?

Check all that apply.

  • They must establish state-owned businesses.
  • They must decrease private ownership.
  • They must establish a fair labor market.
  • They must discourage foreign investment.
  • They must open up trade to other countries.

Why do countries provide financial incentives?

Why do countries provide financial incentives? The correct answer is letter A: Financial incentives act as trade barriers. When countries provide financial incentives, they are promoting their domestic production by making it more efficient and cheaper, moreover, it is a way of protecting the country’s industry.