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3 years ago

Which of these factors did you include? Check all that

History

1 answer:

Andreyy893 years ago

8 0

Answer:

All the factors listed in the question are related to low GDP except for low labor costs:

an economy based on agriculture

Economies based on agriculture tend to have a low GDP, because agriculture usually produces less output than industry and services.

an economy based on a few industries

Economies lacking complexity, most of the time (not always) have a low GDP. An economy based on a few industries is not only vulnerable to shocks, but also likely to be unproductive.

a low standard of living

A low standard of living is directly related to GDP, more specifically, to GDP Per Capita. This is a statistical relationship that has been established by countless economic studies.

a lack of infrastructure

A country that lacks physical infraestructure will usually have a low GDP, because infraestructure is needed to both the production and delivery of goods and services.

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