Question

Various factors of development?

Answer 1

Answer:

Economists generally agree that economic development and growth are influenced by four factors: human resources, physical capital, natural resources and technology.

Factors that Influence the Economic Development of a Country

• 1) Capital Formation.
• 2) Natural Resources.
• 3) Marketable Surplus of Agriculture.
• 4) Conditions in Foreign Trade.
• 5) Economic System.

Answer 2

Factors of development are:

• Capital Formation
• Natural Resources
• Marketable Surplus of Agriculture
• Conditions in Foreign Trade
• Economic System

• Human Resources
• Political Freedom
• Social Organisation
• Corruption
• Desire to Develop
• Human resources
• Physical capital
• Natural resources
• Technology.