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Development, competitiveness and the poverty trap

Development, competitiveness and the poverty trap

Poverty trap cycle showing low income, low savings and tax revenue, low investment, low productivity, weak growth and external obstacles such as poor health, weak institutions, debt servicing, trade barriers and rapid population growth

Economic development is a sustained improvement in living standards, health, education and choice, while economic growth is only the rise in real GDP. LEDCs usually compete from a weaker starting point than MEDCs because productivity, infrastructure and access to finance are often lower.

Obstacles Lesson

  1. A Level
  2. /Economics
  3. /Obstacles

Step-by-step lessons on Eduqas A Level Economics Obstacles. Each one builds up to exam-style questions. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.

Lessons