Asked by Louca Kaoulla on Jun 26, 2024
Verified
One factors that limits a poor nation's economic growth is
A) an overabundance of capital formation.
B) insufficient labor.
C) lack of entrepreneurial ability.
D) increased urbanization.
Entrepreneurial Ability
The skill or talent that an entrepreneur possesses to organize resources effectively, take risks, innovate, and create economic value.
Urbanization
The process through which cities grow, and higher percentages of the population come to live in urban areas.
Economic Growth
Economic growth is an increase in the production of goods and services in an economy over a period of time, typically measured as the rate of increase in real GDP.
- Recognize the importance of entrepreneurship in economic development.
Verified Answer
TF
Taylor ForteJul 02, 2024
Final Answer :
C
Explanation :
Lack of entrepreneurial ability can significantly limit a poor nation's economic growth by hindering innovation, job creation, and the development of new industries, which are crucial for economic advancement.
Learning Objectives
- Recognize the importance of entrepreneurship in economic development.