Explain any three factors on which economic development of a country depends

CBSE Class 10 CBSE Class 10 Social Science
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1

Explain any three factors on which economic development of a country depends.

2

If we consider democracies and all dictatorships, dictatorships have slightly higher rate of economic growth.
Economic development depends on the following factors:

  • Size of the country.
  • Global situation of the country.
  • Cooperation from other countries.
  • Economic priorities adopted by the country.