Economic growth and development in LDCs are low because many of them lack a. capital investment. b. technological progress. c. a favorable political environment. d. all of the above. e. none of the above.

Short Answer

Expert verified
The correct answer is d. all of the above, as LDCs typically face challenges relating to insufficient capital investment, slower technological progress, and an unfavorable political environment, hindering their economic growth and development.

Step by step solution

01

Understand the Concepts

Economic growth refers to an increase in the output of goods and services (usually measured as GDP) in a country, while development refers to the improvement in the overall well-being, standard of living and quality of life of a country's population. Less Developed Countries (LDC) face numerous challenges that impede their economic growth and development.
02

Analyze the Options Provided

Let us analyze each option to deduce the correct answer: a. Capital investment: Capital investments are essential for economic growth and development, as they encompass funds invested in the production of goods and services, leading to the creation of jobs and improvement in infrastructure. LDCs usually lack sufficient capital investment. b. Technological progress: The acquisition and dissemination of new technologies can lead to increased productivity, upgraded industrial processes, and faster economic growth. LDCs often have limited resources for research and development, leading to slower technological progress. c. A favorable political environment: A stable and positive political environment provides a foundation for economic growth and development. LDCs may face political instability, corruption, or inefficient governance, which may undermine their economic potentials. Now we will determine if the correct answer is d. all of the above or e. none of the above.
03

Select the Correct Answer

Since LDCs usually face the challenges mentioned in options a, b, and c, the correct answer is: d. all of the above.

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