Which of the Following Is a Major Obstacle to Economic

question 13

Multiple Choice

Which of the following is a major obstacle to economic growth in DVCs?

• A) A fall in population growth
• B) A decline in demographic transition
• C) The low demand for natural resources
• D) The low supply of saving

---

Definitions:

Behavioral Economics

The study of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Neoclassical Economics

An approach to economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand.

Economic Behavior

The actions and decisions individuals, households, and organizations make regarding the allocation and use of resources.

Behavioral Economics Approach

A method of economic analysis that applies psychological insights into human behavior to explain economic decision-making.