Question

Major constraints to economic development.

Answer 1

Answer:

Major constraints to economic development are:

• Inefficiencies within the micro-economy.
• Imbalances in the structure of the economy.
• A rapidly growing or declining population.
• Lack of financial capital.
• Lack of human capital.
• Poor governance and corruption.
• Missing markets.
• Over-exploitation of environmental capital.

Answer 2

Explanation:

Development constraints

• Inefficiencies within the micro-economy.
• Imbalances in the structure of the economy.
• A rapidly growing or declining population.
• Lack of financial capital.
• Lack of human capital.
• Poor governance and corruption.
• Missing markets.

Over-exploitation of environmental capital.

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