Low levels of social welfare is the barrier to economic development shown in the following examples (I. the high rate of HIV infection in underdeveloped nations II.
Which barrier to economic development is?
These obstacles are: high population growth rates , high illiteracy rates, poor infrastructure, human capital inadequacies, foreign currency gap and capital flight, unsafe water supplies, inadequate housing facilities, ethnic and religious conflict, corruption, poor governance, poor health services, primary product ...
Which of the following is an example of economic development?
It is usually measured by an increase in the gross domestic product (GDP) or other measure of aggregate income. An example of economic development is when a country begins to produce more products and increase its overall wealth .
What are two economic development examples?
- Average life expectancy, i.e., how long people people's lifespans are.
- Education standards.
- Literacy rates, i.e., what percentage of the population can read.
- Environmental standards.
- Availability of housing, plus the quality of housing.
- Access to healthcare. ...
- Income per capita.
What is an example of an economic development indicator?
To assess the economic development of a country, geographers use economic indicators including: ... GNP per capita is a country's GNP divided by its population . (Per capita means per person.) Economic growth measures the annual increase in GDP, GNP, GDP per capita, or GNP per capita.
What are the major obstacles to economic development?
- Poor infrastructure.
- Human capital inadequacies.
- Primary product dependency.
- Declining terms of trade.
- Savings gap; inadequate capital accumulation.
- Foreign currency gap and capital flight.
- Corruption, poor governance, impact of civil war.
- Population issues.
What are the main obstacles to economic development?
- Obstacle # 1. Interlocking Various Circle:
- Obstacle # 2. Population Problems:
- Obstacle # 3. The Difficult of Adapting Western Technology:
- Obstacle # 4. Lack of Preparation for an Industrial Revolution:
- Obstacle # 5. The International Context:
What is economic development and its type?
The application of development economics is complex and varied as the cultural, social, and economic frameworks of every nation is different. Four common theories of development economics include mercantilism, nationalism, the linear stages of growth model, and structural-change theory .
What is economic development explain with example?
Economic Development is the creation of wealth from which community benefits are realized . It is more than a jobs program, it's an investment in growing your economy and enhancing the prosperity and quality of life for all residents. Economic development means different things to different people.
What is economic development and its features?
Economic development is a process through which the overall education, well-being, health, income and living standards of the general population improves . This is where the economy will gradually grow, change and become advanced.
What are the 4 types of economic development?
- Traditional economic system. ...
- Command economic system. ...
- Market economic system. ...
- Mixed system.
What are the two bases of measuring economic development of a country?
Two bases of measuring development of a country are : (i) Average or per capita income . (ii) National income and public facilities.
What are the 5 phases of economic development?
Unlike the stages of economic growth (which were proposed in 1960 by economist Walt Rostow as five basic stages: traditional society, preconditions for take-off, take-off, drive to maturity, and age of high mass consumption ), there exists no clear definition for the stages of economic development.
What are the three indicators of economic development?
- Growth rate of National Income:
- Per Capita Income (PCI):
- Per Capita Consumption (PCC):
- Physical Quality Life Index (PQLI) and Human Development Index (HDI):
- Industrial progress: ...
- Capital formation:
What are the 3 most important economic indicators?
Of all the economic indicators, the three most significant for the overall stock market are inflation, gross domestic product (GDP), and labor market data .
What are the 5 key economic indicators?
- Gross Domestic Product (GDP)
- The Stock Market.
- Unemployment.
- Consumer Price Index (CPI)
- Producer Price Index (PPI)
- Balance of Trade.
- Housing Starts.
- Interest Rates.
