Economic and NonEconomic Factors 1 Economic Factors 1 Natural Resource The principal factor affecting the development of an economy is the availability of natural resources The existence of natural resources in abundance is essential for development A country deficient in natural resources may not be in a position to develop rapidly But a countryA moneyless economy or nonmonetary economy is a system for the allocation of goods and services as well as for the assignment of work without payment of money The simplest example is the family household, which can be a system of obligations nevertheless Moneyless economies are studied in econometry, in particular, game theory and mechanism design See the section onThe difference between these two types of resources is that renewable resources can naturally replenish themselves while nonrenewable resources cannot This means that nonrenewable resources are limited in supply and cannot be used sustainably There are four major types of nonrenewable resources oil, natural gas, coal, and nuclear energy Oil, natural gas, and coal are
The Invisible Majority What Feminist Economics Can Offer Publication Economic Commission For Latin America And The Caribbean
