Asked by Andreas Frånlund on Jul 29, 2024
Verified
Which of the following seems to be the most acute institutional problem that needs to be resolved by many DVCs?
A) the use of capital-saving technology
B) development of natural resources
C) widespread political corruption
D) an increase in foreign aid
Political Corruption
The misuse of public power by government officials for private gain, often compromising the interests and rights of citizens.
Institutional Problem
Challenges and issues within established organizations that hinder their effectiveness or goals.
DVCs
Digital Video Cameras; devices used for recording moving images digitally, but here as an acronym, it could refer to Direct Variable Costs, the costs that vary directly with the level of output.
- Illustrate the challenges posed by widespread political corruption in the economic development of developing nations.
Verified Answer
AJ
Allen JonesJul 31, 2024
Final Answer :
C
Explanation :
Widespread political corruption is a common challenge faced by many DVCs. This issue undermines the efficient functioning of institutions and hinders economic progress. It also contributes to insecurity, inequality, and reduced social welfare. Therefore, addressing political corruption is a priority for DVCs to achieve sustainable development. The other options may also be important but are not as acute as political corruption.
Learning Objectives
- Illustrate the challenges posed by widespread political corruption in the economic development of developing nations.