Why might Developed countries want to outsource manufacturing and other jobs to developing economies?

Why might Developed countries want to outsource manufacturing and other jobs to developing economies?

It may be difficult to adjust to another nation’s influence. Why might developed economies want to outsource manufacturing and other jobs to developing economies? Developed economies can find more inexpensive labor in developing economies.

Why might developed economies want to outsource manufacturing?

Developed economies are responsible for helping developing economies progress. Developed economies focus only on service, not manufacturing, so they must outsource. Developing economies produce higher-quality goods, so it makes sense to outsource.

What characteristics developing economies check all that apply?

Explanation: What characterizes a developing economy is the rapid pace of GDP and improved social indicators such as rising living standards and the rise of the middle class. GDP will be accelerated as production in the country increases.

Which factor is likely to be of concern in a developed nation in the twenty first century quizlet?

Which factor is likely to be of concern in a developed economy in the twenty-first century? low GDP higher unemployment among less-skilled workers populations that are growing too quickly a labor shortage in manufacturing industries.

What are the two important features of development?

These are:

• It is a continuous process.
• It follows a particular pattern like infancy, childhood, adolescence, maturity.
• Most traits are correlated in development.
• It is the result of interaction of individual and environment.
• It is predictable.
• It is both quantitative and qualitative.

What are the role of credit for development?

Explanation: (i) It helps in increasing economic activities of the country; thus, helps in its development. (ii) If credit is made available to the poor people at reasonable rates, they can improve their economic condition. (iii) Credit helped in the development of secondary sector or manufacturing sector.

What factors influence the development of a country?

Factors that Influence the Economic Development of a Country

• 1) Capital Formation:
• 2) Natural Resources:
• 3) Marketable Surplus of Agriculture:
• 4) Conditions in Foreign Trade:
• 5) Economic System:
• 1) Human Resources:
• 2) Technical Know-How and General Education:
• 3) Political Freedom:

How do political factors impact the development of a country?

Political Factors, or government policies and administrative practices, can have a great impact on economic development, which is the movement from farming-based cultures to industrialized societies. Political factors influence economic development by positively or negatively influencing the process of development.

What are the social factors that affect the development?

5 important factors that affects Social Development

• Home Environment. Home is the first socialising agency.
• Socio-Economic Status of the Family. ADVERTISEMENTS:
• Love and Affection. Love and affection are the basic psychological needs of children.
• Participation in Social Organisations. There are various types of social organisations.
• School Programmes.