About This Chapter
Factors of Economic Growth & Development - Chapter Summary
This chapter discusses the factors that contribute to - or deter - economic development and growth. These convenient and bite-sized lessons look at these factors through economic, political, administrative and sociocultural perspectives. You'll find that our instructors' straightforward teaching style simplifies the learning process and enables you to quickly learn and retain these international business concepts. You can take a short quiz following each lesson to make sure you fully understand the material. After working through the lessons in this chapter, you'll be able to:
- Analyze the ways in which supply, demand, efficiency and other economic factors affect the economy
- Explain different sociocultural factors that impact economic development
- List ways economic development can be deterred by political factors
- Consider economic growth and development terminology
1. Economic Factors Impacting Economic Development
This lesson discusses how factors such as natural resources, power and energy, capital accumulation, technology, the labor force, transportation, communications, and education can influence economic development.
2. Sociocultural Factors Impacting Economic Development
Sociocultural norms influence how people engage and interact with their environment. This lesson describes sociocultural factors that impact economic development.
3. Political Factors Affecting Economic Development
This lesson will discuss how political factors such as regime type, political stability, political management, corruption, and trade laws affect economic development. Check your understanding with the quiz questions.
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Other chapters within the Business 320: Advanced International Business course
- Globalization & International Business
- Organizational Structure & Communication
- Understanding Global Economic Environments
- World Trade Organization
- Entering the Global Marketplace
- Regional Integration
- International Trade Theory & Policy
- Global Money System
- Exchange Rate Determination & Forecasting
- Foreign Direct Investments
- Balance of Payments
- International Business Strategy
- Crisis Management & International Business
- International Business Ethics