Which of the following are potential obstacles to economic development in LDCs?

Question

Quizplus · Accepted Answer

All the mentioned factors are potential obstacles to economic development in LDCs. Lack of resources can limit the investment for development projects or can lead to an increase in import costs. Lack of education limits human capital formation while war and political instability tend to discourage investment projects and disrupt production activities. Traditional methods of production may not be efficient or effective in producing enough goods and services for export or domestic use. Therefore, all of these factors can constrain the economic development of LDCs.

Which of the Following Are Potential Obstacles to Economic Development