Question

list out the factors essential for rapid development​

Answer 1

Explanation:

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• Six Factors Of Economic Growth
• Six Factors Of Economic GrowthNatural Resources. The discovery of more natural resources like oil, or mineral deposits may boost economic growth as this shifts or increases the country's Production Possibility Curve. ...
• Six Factors Of Economic GrowthNatural Resources. The discovery of more natural resources like oil, or mineral deposits may boost economic growth as this shifts or increases the country's Production Possibility Curve. ...Physical Capital or Infrastructure. ...
• Six Factors Of Economic GrowthNatural Resources. The discovery of more natural resources like oil, or mineral deposits may boost economic growth as this shifts or increases the country's Production Possibility Curve. ...Physical Capital or Infrastructure. ...Population or Labor. ...
• Six Factors Of Economic GrowthNatural Resources. The discovery of more natural resources like oil, or mineral deposits may boost economic growth as this shifts or increases the country's Production Possibility Curve. ...Physical Capital or Infrastructure. ...Population or Labor. ...Human Capital. ...
• Six Factors Of Economic GrowthNatural Resources. The discovery of more natural resources like oil, or mineral deposits may boost economic growth as this shifts or increases the country's Production Possibility Curve. ...Physical Capital or Infrastructure. ...Population or Labor. ...Human Capital. ...Technology. ...
• Six Factors Of Economic GrowthNatural Resources. The discovery of more natural resources like oil, or mineral deposits may boost economic growth as this shifts or increases the country's Production Possibility Curve. ...Physical Capital or Infrastructure. ...Population or Labor. ...Human Capital. ...Technology. ...Law.

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Answer 2

❤▄▄▄▄❤ANSWER ❤▄▄▄▄❤

1. Natural Resources

The discovery of more natural resources like oil, or mineral deposits may boost economic growth as this shifts or increases the country’s Production Possibility Curve. Other resources include land, water, forests and natural gas.

2. Physical Capital or Infrastructure

Increased investment in physical capital, such as factories, machinery, and realistically, it is difficult, if not impossible, to increase the number of natural resources in a country. Countries must take care to balance the supply and demand for scarce natural resources to avoid depleting them. Improved land management may improve the quality of land and contribute to economic growth.oads, will lower the cost of economic activity. Better factories and machinery are more productive than physical labor. This higher productivity can increase output.

3. Population or Labour

A growing population means there is an increase in the availability of workers or employees, which means a higher workforce. One downside of having a large population is that it could lead to high unemployment....

4. Human Capital

An increase in investment in human capital can improve the quality of the labor force. This increase in quality would result in an improvement in skills, abilities, and training. A skilled labor force has a significant effect on growth since skilled workers are more productive.

5. Technology

Another influential factor is the improvement of technology. The technology could increase productivity with the same levels of labor, thus accelerating growth and development. This increment means factories can be more productive at lower costs. Technology is most likely to lead to sustained long-run growth.

6. Law

An institutional framework that regulates economic activity such as rules and laws. There is no specific set of institutions that promote growth.