ECO 1102 Lecture Notes - Lecture 4: Subsistence Agriculture, Extreme Poverty, Surplus Labour

• School: University of Ottawa
• Department: Economics
• Course: ECO 1102
• Professor: Najib Khan

Document Summary

There are various factors that lead to the economic development of a certain country. In this report we will be analyzing all these factors with respect to three countries; usa, benin and. Usa is a part of the higher income economies (,476 or more) and is one of the richest members of oecd countries. Moreover, benin is a part of the low income economies (,025 or less) and guatemala is a part of the lower middle income economies (,026 to. The following section of the report states the cross country analysis of the three countries with respect to the main indicators that have a significant impact or role in determining the economic growth of the countries. In2010-2013, there was an increasing trend in percentage of gross savings which again fell in 2014 and has remained almost constant since then. The income of households has been relatively high in the last 5 years, which encouraged more domestic savings.