Saving is low in many DVCs primarily because income is very equally distributed.

Question

Quizplus · Accepted Answer

Low savings in many DVCs are due to various socio-economic factors such as low income levels, lack of financial literacy, insufficient access to financial services, high levels of debt, and limited employment opportunities in formal sectors. The unequal distribution of income can also play a role, but it is not the primary reason for low savings rates.

Saving Is Low in Many DVCs Primarily Because Income Is