Question

Suppose that a developing country devotes extensive resources towards improving the education and skill level of its labor force. How might this help the country avoid a coordination failure? Is this strategy likely to be successful? Why or why not? C. Is a coordination failure a type of market failure? Explain.

Answer 1

Answer:

Improving the education and skill level of the people help a country to aviod coordinated failure.

Explanation

:If a developing country devotes entensive resources towards improving the education and skill levelof its labor force, it will be doing so to mitigate the various causes of coordinated failure, as such labor force will constantly utilize their knowledge andskills in addressing sucy proposed failure,

It is a success strategy because  such developing country would have saved itself a lot of cost for managing their economy, avert issues that would lead to inflations, and other economic challenges that will almost be impossible for the leaders to achieve.  

Acoordinated failure could be seem as a type of market failure in the economics point of view.