Question

Mere availability of resources in the absence of corresponding changes in technology and institution may hinder development , explain

Answer 1

Answer:

Development may be hampered by the simple availability of resources in the lack of equivalent technological advancements. This is because only via the utilization of cutting-edge technology, talents, and institutional setup can existing resources be used effectively.

Explanation:

• Lack of technological advancement is the cause. The industrialized nations take the diamond and gold extracted from its countries, leaving them in poverty. Therefore, we can conclude that a country's economic progress is hampered by the simple availability of resources without technological improvement.
• Resources are natural, but man has to strive to obtain them for his or her own purpose. Utilizing resources requires both industries and technology. There are several instances that demonstrate how technology has contributed significantly to a nation's economic progress.

Thus this is the answer.

#SPJ2