Discussion: The Role of Entrepreneurship Development in the EconomicGrowth of the Country.Read the box item and submit your response in the space given:1. What is the reason for poverty in developing countries, despite theirrich resource endowments?2. If only natural resources were the key determinants of economic growththe entire African continent or Latin America or most part of Asia wouldhave been developed.
Answers
Answer:
Explanation:
1-What is the reason for poverty in developing countries, despite their rich resource endowments?
The reason for poverty existing in well off countries is that there is no such effective utilization of their resources. When a country has natural resources they have the available raw material to create goods and services, they can use such resources to cut down their cost of production and become successful. However, even if economic activity is generated in a country still poverty may exist. This happens due to major causes like lack of knowledge on how to utilize those resources. The fact that those resources are not utilized effectively and instead wasted. And another factor is that corruption exists. The leaders are corrupt and they tend to eat up the finances which may be used as government spending.
Answer:
The Economic growth is very important for a country, with the help of economic growth we find out what is the country developing rate. In a rich resource country following causes of poverty that is in a rich country some people who are not educated, as well as a rich country, is not proper to use their natural resources. Some rich people do not think about other people.