Evaluate any three (3) factors that influence economic development.

I
will attempt to advance on the answer above by evaluating some other factors that influence
economic development. These might include:

1. Technological development. When
a country has an advantage over others in terms of the level of technology it can produce, this
means its economic development will be accelerated beyond that of other countries. Technological
advancement is a factor that can increase the rate of productivity and the amount of wealth
generated by exported product.

2. Political and social conventions. When a
country has very conventional or conservative social and political conventions, it will
generally be less inclined to globalize and more inclined towards insularity. It will also
refuse to associate or trade with countries that have different political or social outlooks,
which can limit income. If a country is politically and socially liberal, it will be better able
to receive income from a wide range of sources.

3. Agricultural surplus.
Similar, but not identical, to natural resources, this factor relates to countries that have
significant amounts of arable land, to the extent that they produce far more than they need to
consume. This is generally applicable to countries with moderate climates and smaller
populations. Where a country has more food to sell than it has to consume, it will be likely to
have a more positive economic outcome.