What are the six factors that influence economics?
Six Factors Of Economic Growth
- Natural Resources. The discovery of more natural resources like oil, or mineral deposits may boost economic growth as this shifts or increases the country’s Production Possibility Curve.
- Physical Capital or Infrastructure.
- Population or Labor.
- Human Capital.
What is poverty class9?
1. Poverty is the lack of basic human needs such as Nutrition, health care education, clothing and shelter, because of the inability to afford them. India has the largest single concentration of the poor in the world. …
What is poverty paragraph?
Paragraph 3 – 150 Words Poverty is a source of problems and pain in human life. Due to poverty, people spend their entire life in the absence of essential commodities. A poor is a helpless person who neither can meet his needs nor his family. Poverty always remains a barrier in the path of his happiness.
What are the 3 economic problems?
Ans. – The three basic economic problems are regarding the allocation of the resources. These are what to produce, how to produce, and for whom to produce.
What are the key economic factors?
Economic Factors are the factors that affect the economy and include interest rates, tax rates, law, policies, wages, and governmental activities. These factors are not in direct relation with the business but it influences the investment value in the future.
What are the two main causes of poverty in India?
Discuss the main reasons for poverty in India
- Increase rate of rising population:
- Less productivity in agriculture:
- Less utilization of resources:
- A short rate of economic development:
- Increasing price rise:
- Shortage of capital and able entrepreneurship:
- Social factors:
What are the factors affecting globalization?
Factors influencing Globalization are as follows: (1) Historical (2) Economy (3) Resources and Markets (4) Production Issues (5) Political (6) Industrial Organisation (7) Technologies. Globalisation though is basically an economic activity, is influenced by many factors.
What is the concept of poverty?
Poverty, the state of one who lacks a usual or socially acceptable amount of money or material possessions. Poverty is said to exist when people lack the means to satisfy their basic needs. The problem of definition is further compounded by the noneconomic connotations that the word poverty has acquired.