Answer to Question #271523 in Microeconomics for vtg

Question

a.Clearly explain any 3 characteristics of a developing economy. (9)

b. Mention any five challenges to the South African economic growth. (5)

c. Which challenge is at the top list of South Africa’s priorities and why? (3)

d. Mention the three main rating agencies. (3)

Answer 1

a)

Low Per Capita Real Income.

High Population Growth Rate.

High Rates of Unemployment.

b)

corruption and mismanagement in government

high rates of unemployment

insufficient infrastructure

poor government service delivery to impoverished communities

c)The high levels of unemployment

d)The global credit rating industry is highly concentrated, with three agencies—Moody's, Standard & Poor's, and Fitch