Liberia,a very poor nation in West Africa,is relatively abundant in resources such as mahogany and rubber tree forests,iron-ore deposits,and diamonds.If Liberia is so rich in valuable resources,why is it still so impoverished?

Question

Quizplus · Accepted Answer

The lack of institutions necessary to make productive use of those resources is the main reason why Liberia is still impoverished. This includes corrupt governance, a weak legal system, inadequate infrastructure, and limited education opportunities. These factors make it difficult for businesses and investors to operate effectively, resulting in a lack of economic growth and development. While the other options may have some impact, they do not address the underlying issue of institutional weakness.

Liberia,a Very Poor Nation in West Africa,is Relatively Abundant in Resources