84.2k views
3 votes
List and describe at least four reasons why some countries are rich and some are poor. GIVE EXPLANATION FOR EACH POINT!! PLUS ILL MARK YOU AS BARINLIEST....

User Sheila
by
5.0k points

2 Answers

5 votes

Answer:

Step-by-step explanation:

Differences in the economic growth rate of nations often come down to differences in inputs (factors of production) and differences in TFP—the productivity of labor and capital resources. Higher productivity promotes faster economic growth, and faster growth allows a nation to escape poverty.

hope it helps

User GorillaApe
by
4.9k points
4 votes

Answer: there are many reasons why some countries are rich and some countries are poor. one reason is geographical importance of the location. If a country has great resources like petroleum etc it denotes that country is physically and geographically rich, also mountain regions( since mountains contain rich minerals with forested areas), plateaus etc.

Another reason is human capital. Some countries like japan are globally known as rich country because of their high importance of industries, but behind that, these countries had focused on the education and health of humans. they improved human capital and marked humans as an asset for the country rather than liability. Another reason is urban importance. Some countries had developed rural areas into urbanised regions promoting tourism and making it a happy and globally rich country. the other reason is upgrading each sectors of the society, by improving each sectors like education, health, tourism etc a country can be denoted as rich or not rich. population and land area of a country can also be included as factors that proportionally influence the richness of the country.

User Utopianheaven
by
4.9k points