In theory, a greater number of poor and developing countries such as Ghana should be catching up with the rest of the world. However there are many examples of poor countries that are not growing and seem stuck in poverty. Some factors have a positive influence on growth and some have a negative influence. In the set of answers below you can only use each answer once.What is the influence on growth of... (Select for each one from the pic attached.)Corruption: ?lack of good roads: ?international trade: ?poorly secured property rights: ?microfinance: ? ✓ Choose...Raises the cost of doing business and results in wasted resources.Makes it difficult for entreprenuers to secure access to finance in order to expand their business.Makes it difficult for the poor to get their goods to market and makes things they buy more expensive.Discourages employmentUtilises social capital to secure small loans and allows small scale entrepreneurs to expand by having access to finance.Promotes growth by giving producers more markets to sell into and giving consumers access to cheaper goods and services.

Answered: In theory, a greater number of poor and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In theory, a greater number of poor and developing countries such as Ghana should be catching up with the rest of the world. However there are many examples of poor countries that are not growing and seem stuck in poverty. Some factors have a positive influence on growth and some have a negative influence. In the set of answers below you can only use each answer once.

What is the influence on growth of... (Select for each one from the pic attached.)

Corruption: ?

lack of good roads: ?

international trade: ?

poorly secured property rights: ?

microfinance: ?

✓ Choose...
Raises the cost of doing business and results in wasted resources.
Makes it difficult for entreprenuers to secure access to finance in order to expand their business.
Makes it difficult for the poor to get their goods to market and makes things they buy more expensive.
Discourages employment
Utilises social capital to secure small loans and allows small scale entrepreneurs to expand by having access to finance.
Promotes growth by giving producers more markets to sell into and giving consumers access to cheaper goods and services.

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Lack of resources to meet necessities like food, clothing, and shelter constitutes poverty. But poverty goes far beyond simply not having enough money.

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