According to Hernando De Soto, a Peruvian Economist, It Takes

question 25

Multiple Choice

According to Hernando De Soto, a Peruvian economist, it takes 13 to 25 years and 168 steps in order to have a house registered in the Philippines.In Haiti, it takes around 12 years and 111 visits to officials to formalize a business.The costs in terms of time and financial resources to have the property right over a home or a business have promoted the development of informal sectors or "extra-legal" sectors in various developing countries.The existence of a large informal sector in numerous developing countries is an example of:

• A)corruption.
• B)a lack of appropriate institutions.
• C)political instability.
• D)overpopulation.

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Definitions:

Mantle

The thick layer of the Earth located between the crust above and the outer core below, characterized by its solid yet plastic-like flow.

Refracted Wave

A wave that changes direction and speed as it passes from one medium to another due to differences in densities.

Material

Any substance or matter used in manufacturing, construction, or composition of something else.

Stream Channel

The physical confine of a stream (rivulet) consisting of a bed and banks, which confines and directs water flow.