4.9 Barriers To Economic Growth Flashcards
1
Q
What is the poverty cycle and draw the diagram
A
Arises when low incomes result in low savings, permitting low investment and low productivity. It is transmitter from generation to generation
2
Q
Economic barriers to development
A
economic inequality
limited access to infrastructure
limited access to technology
low levels of human capital
dependence on production and exports on the primary sector
limited access to international markets
informal economy
geography and landlocked countries
tropical climates and diseases
3
Q
Political and social barriers to development
A
weak institutional framework
- ineffective taxation structures
- banking systems
- property rights and land right
gender inequality
unequal power
corruption
