10 Questions
What is one of the economic factors that contributes to economic development?
Capital Formation
Which of the following is a non-economic factor in economic development?
Corruption
What is the desire to develop, in the context of economic development?
A key driver of economic growth
What is the role of technical know-how and general education in economic development?
It is a human resource
What is the relationship between natural resources and economic development?
Natural resources are a necessary condition for economic development
What is the relationship between health and economic growth?
Interchangeable, with each affecting the other
What does the mortality rate variable indicate?
The impact of economic growth on general health status
What are some other important indicators of the impact of economic growth on health?
Level of nutrition and general health care
What is the relationship between economic growth and health care?
Economic growth can lead to improved health care, but not always
What is a key factor in the environment that affects health?
Hygiene environment
Study Notes
Determinants of Economic Development
Economic Factors
- Capital Formation: a crucial factor in economic development
- Natural Resources: availability and utilization of natural resources impact economic development
- Marketable Surplus of Agriculture: surplus agricultural produce that can be sold or traded, contributing to economic growth
- Conditions in Foreign Trade: favorable trade conditions and policies can promote economic development
- Economic System: the type of economic system in place, such as capitalist or socialist, influences economic development
Non-Economic Factors
- Human Resources: availability and quality of human capital, including skills and education, affect economic development
- Technical Know-How and General Education: technical skills and education level of the population can drive economic growth
- Political Freedom: political stability and freedom can create an environment conducive to economic development
- Social Organisation: social structures and institutions can either facilitate or hinder economic development
- Corruption: the presence of corruption can negatively impact economic development
- Desire to Develop: a strong desire to develop and improve living standards can drive economic growth
Health and Economic Growth
- The relationship between health and economic growth is interchangeable, meaning they affect each other.
- Mortality rate is a key indicator that shows the impact of economic growth on general health status.
Health Indicators
- Level of nutrition is an important indicator of general health status.
- Access to good healthcare is a significant indicator of general health status.
- Hygiene and environment are also important indicators of general health status.
Test your knowledge on the determinants of economic development, including economic and non-economic factors, natural resources, human resources, and more.
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