Explain the main factors that influence the rate of economic growth Ess

Explain the main factors that influence the rate of economic incrementEconomic festering leave be different in M.E.D.Cs than it will be inL.E.D.Cs. The reason for this is that M.E.D.Cs are already developedand extensive improvement may not be possible but in L.E.D.Cs they have along way to catch up so it is easier for them to expand vastly.Economies like China and India have potential for vast economic growthbecause of a huge population. If these countries got their acttogether then they would be the world leaders. These two countriesalone account for 40% of the worlds population.Land- Different countries have different amounts of land, it isdefined as all natural resources not fair(a) land itself. For exampleSaudi Arabia without its fossil oil would just be some other poor third worldcountry. The U.K s land became richer with the discovery of oil fieldsin the North Sea which have only buzz off processed since the mid 1970s.Today oil contributes to about 3-4% of G.N.P. How ever the exploit ofraw materials is unlikely to be a significant source of growth indeveloped economi...