UNIT 1

Question 1

Why is the study of development important?

Answer 1

The study of development is important because it involves understanding the factors that contribute to life and death, reducing deprivation, promoting inclusive education, technological advancements, and addressing poverty through economic and social changes.

Question 2

What are some examples of obstacles to development?

Answer 2

Some examples of obstacles to development include
- control by foreign corporations over natural resources
- position in the international division of labor
- insufficient access to international financing channels
- trade strategies of developed economies
- low-income levels
- concentration of income and wealth
- narrowness of the internal market
- low productivity of the labor force
- deficient local infrastructure
- inadequate resource allocation
- inadequate priority setting of the education system
- distorting functioning of markets.