The government of Ghana pinned its hope for economic growth on manufacturing industries soon after independence. However, the manufacturing sector is currently fraught with several challenges. With relevant examples, account for four (4) challenges and propose four (4) solutions to them.

The government of Ghana pinned its hope for economic growth on manufacturing industries soon after independence. However, the manufacturing sector is currently fraught with several challenges. With relevant examples, account for four (4) challenges and propose four (4) solutions to them.

Related questions

Q: Discuss the factors that contribute to economic growth.

A: When talking about economic growth, it can be said that it is the economic situation when an economy…

Q: Please define and discuss Economic Growth with examples

A: Economic growth means a rise in the production of goods & services in a country. It means a rise…

Q: What distinguishes economic growth from economic development in the given case study titled "The…

A: The distinction between economic growth and development in the context of Rwanda is clearly…

Q: True or false Technological advancements is necessary for the economic growth in a country.

A: An economy is said to be experiencing economic growth when its output of goods and services rises…

Q: Describe the difference between human capital and technological knowledge in terms of workers’…

A: Human capital is defined as the required skills, expertise, knowledge, and experience that an…

Q: Formulate 5 specific ways or programs for the government to create faster ways of economic growth,…

A: Microeconomics and macroeconomics are the two most important branches of economics. Microeconomics…

Q: Justify the statement. T/F Economist does not consider the non monetary measures in evaluating the…

A: Introduction Non-monetary measures are indicators of economic development which are not related to…

Q: THREE reasons why some Government policy does NOT increase productivity and economic growth. Ensure…

A: Throughout history, every government has used some sort of industrial policy—public programs aimed…

Q: The importance of institutions for economic growth are best explained as a) a country's ability…

A: the sustained rise in production of goods and services is called economic growth. The institutions…

Q: Which of the following is NOT an institution as defined by the study of economic growth a) the…

A: The United nations is not an Institutions as defined by the study of economic growth.

Q: It has been shown that productivity explains most of the increase in living standards associated…

A: Productivity:- Productivity can be defined as the ratio between the volume of output produced and…

Q: What other factors, aside from labor productivity and capital investment, can impact the economic…

A: Technology is widely acknowledged in economics as the primary engine of economic growth in…

Q: Discuss THREE public policies that can facilitate economic growth in a Caribbean economy.

A: The public policies adopted in the Caribbean economy to facilitate economic growth can be understood…

Q: What can be inferred with respect to economic growth and price control in GDP per capita (current),…

A: What may be deduced from GDP per capita (current), GDP growth rate, and inflation rate in terms of…

Q: Why capital formation and technical progress is a source of economic growth

A: Meaning of Economic Growth: The term economic growth refers to the growth towards the internal…

Q: what is average labour productivity? Explain how average labour productivity can impact economic…

A: According to the Marginal Productivity Theory of Distribution, factors of production are paid…

Q: THREE reasons why a country economy is not productive and there is no economic growth. Ensure that…

A: Economy: It refers to the region or a state where the population stays or where the resources are…

Q: How does production and growth are related to each other? Compare and contrast. no to plagiarism

A: The production of the goods and services would result in the creation of the final value of the…

Q: Four Reasons why economic growth is important for a country

A: Gross domestic product is the market value of final goods and services that are produced within the…

Q: The 10 Pros and 10 Cons of Entrepreneurs contribution to jobs and economic growth.

A: Entrepreneurs are one of the economy's most valuable assets. Entrepreneurs who are productive boost…

Q: Two ways in which the manufacturing sector can contribute to economic growth

A: Economic growth is a rise in the level of services and goods that are sustained over a long period…

Q: Discuss the importance of technology and capital formation (investments) to economic growth and…

A: Consumers can buy further products and services as a result of economic prosperity, and their living…

Q: Analyse the constraints that hamper south Africa's economic growth.

A: The economy of South Africa(SA) is an emerging economy. It is the biggest and wealthiest nations of…

Q: Natural resources are the decisive ingredient in any country's prospects for economic growth. True…

A: here we state whether the give statement is true or false as given below;

Q: Growth in GDP per capita is an important measure of economic prosperity because it corrects for…

A: GDP per capita helps determine the prosperity of a nation by determining the economic growth per…

Question

Expert Solution

Step 1 - Introduction

In Africa there was an empire - the Ghana Empire which was quite powerful and strong in the medieval time. At present, West Africa has a country named after Ghana. Kwame Nkrumah was the president after Ghana had achieved its independence. According to Nkrumah, it was a very crucial step to gain independence for Ghana which would have been a big step for the whole of Africa.