Countries with an inadequately trained workforce and few entrepreneurs often achieve the highest levels of income by relying on a large number of workers.

Question

Quizplus · Accepted Answer

Poor countries often have plenty of labor and access to adequate capital. However, the two factors of production that are most critical in generating national wealth are entrepreneurship and knowledge. A country found lacking in these would experience relatively low levels of income.

Countries with an Inadequately Trained Workforce and Few Entrepreneurs Often