+3 votes
in Economics by kratos

List the economic and non-economic factors determining development.

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+2 votes
by kratos
 
Best answer

Economic factors:

Reviewing economic growth and development literature shows that the concepts of growth and development been changed qualitatively and quantitatively. Historically, economic growth factors, have normally been associated with the economic circumstances in a particular **, e.g. when trade was the prevailing economic activity during the Mercantilist era, gold and trade were the main economic factors seen as leading to growth.

(i) Availability of national resources in abundance.

(ii) Adequate availability of capital.

(iii) Progress in science and technology.

(iv) Entrepreneurial ability.

(v) Human resource development.

(vi) Growth of population.

Non-Economic factors:

(i) Spread of education.

(ii) ** for material betterment.

(iii) Social institutions like caste system, ***** family system.

(iv) Political conditions of a country.

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