Quiz 1:

1. Has economic growth in the third world improved the living conditions of its poor?
- Economic growth is the most effective tool for decreasing poverty and raising
living standards. The standard of living in developing nations Both cross-
country research and country case studies are available. Numerous studies
show that rapid and sustained growth is essential for long-term success.
Accelerating progress toward the Millennium Development Goals not just the
Sustainable Development Goals. The first goal is to cut the number of people
living on less than $1 per day in half around the world.
2. How can poverty be reduced in the rural areas of low-income countries?
- Broad economic stability, competitive markets, and public investment in
physical and social infrastructure are universally acknowledged as crucial
prerequisites for long-term economic growth and poverty reduction in rural
areas.
3. What effect does population growth have on economic development?
- Depending on the circumstances, population expansion can have a beneficial
or bad impact. A big population has the potential to be beneficial to economic
development: after all, the more people you have, the more work you can
perform, and the more labor you can do, the more value (or money) you can
create.
4. Why is there so much unemployment in developing countries?
- The reason for this is because the majority of higher-skilled people are
already employed in the modern economy and are looking for wage work in
poorer economies. Less skilled people are more likely to transfer sectors
when modern-sector productivity rises, and their unemployment rate rises
quicker as a result.
5. What factors affect labor skills in the third world?
- Between mass unemployment, poor working conditions, wage gaps,
discrimination and other concerns, finding a job can be a challenge, and
having one does not guarantee decent living conditions, particularly in low-
income countries.