List and describe at least four reasons why some countries are rich and some are poor?
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List and describe at least four reasons why some countries are rich and some are poor?
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Answer:
The rich countries are rich means that they have higher income per capita , higher efficiency. Efficiency is one of the six goals of society, not the only one. ... The rich countries are rich means that they have higher income per capita , higher efficiency. Efficiency is one of the six goals of society, not the only one.Differences in the economic growth rate of nations often come down to differences in inputs (factors of production) and differences in TFP—the productivity of labor and capital resources. Higher productivity promotes faster economic growth, and faster growth allows a nation to escape poverty.
Explanation:
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Answer:
Differences in the economic growth rate of nations often come down to differences in inputs (factors of production) and differences in TFP—the productivity of labor and capital resources. Higher productivity promotes faster economic growth, and faster growth allows a nation to escape poverty.
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