Which of the following hinders development of developed countries?
Which of the following hinders development of developed countries?
The correct option is C All of these
Population Growth: Population growth is one of the
central problems of economic development. Some developing countries have
population growth rates in excess of their GDP growth rates and therefore have
negative growth rates of per capita GDP. Many developing countries have rates
of population growth that are nearly as large as their rates of GDP growth. As
a result, their standards of living are barely higher than they were 100 years
ago
Cultural Barriers: Traditions and habitual ways of
doing business vary among societies, and not all are equally conducive to
economic growth. In developing countries, cultural forces are often a source of
inefficiency. Sometimes personal considerations of family, past favors, or
traditional friendship or enmity are more important than market incentives in
motivating behavior.
Foreign Dept: Sharp increases in real interest
led to increased debt-service payments and as a result, many countries could
not make their payments. The lending banks had little choice but to reschedule
the debt essentially lending the developing nations the money to make interest
payments while adding to the principal of the existing loans.
Population Growth: Population growth is one of the central problems of economic development. Some developing countries have population growth rates in excess of their GDP growth rates and therefore have negative growth rates of per capita GDP. Many developing countries have rates of population growth that are nearly as large as their rates of GDP growth. As a result, their standards of living are barely higher than they were 100 years ago
Cultural Barriers: Traditions and habitual ways of doing business vary among societies, and not all are equally conducive to economic growth. In developing countries, cultural forces are often a source of inefficiency. Sometimes personal considerations of family, past favors, or traditional friendship or enmity are more important than market incentives in motivating behavior.
Foreign Dept: Sharp increases in real interest led to increased debt-service payments and as a result, many countries could not make their payments. The lending banks had little choice but to reschedule the debt essentially lending the developing nations the money to make interest payments while adding to the principal of the existing loans.
