What factors affect the level of economic development?

There are many factors that can affect the level of economic development of different countries and societies. These factors include the environment, corruption, consumers' behavior, interest rates and health. All these factors are able to influence the level of economic development, either as the only factor or in different combinations.

Corruption is one of the factors that negatively affects the level of economic development of different countries. Corruption exists in many forms and usually has an effect that is harmful to members of the companies and their economic development level. Public data are usually involved in hidden and unwanted personal enrichment at the expense of the country's citizens and at the expense of the economy. Money that could be used in the development of the economy can be transferred to personal bank accounts.

Sometimes corrupt officials are involved in inflation of the price of certain projects to produce this project after the monz. An example is a corrupt governor that can award several projects of road constructionYbrane suppliers for a rate that could be more than a few times worth the project. Excess money can be shared between a corrupt official and his comrades. This misuse of funds affects the level of economic development of different countries.

Consumer behavior is an important factor related to the degree of economic development. The needs and preferences of consumers are very often changing and changing. It is the task of various financial experts to study trends on the market and consumers in order to predict such changes to take proactive steps to alleviate the effects. For example, a large production country with an economy that is dependent on subjects such as cars and other forms of vehicles should be able to anticipate that there is pressure on moving from vehicles that use fossil fuels.

Most automobile companies have already come up with different versions of the prototypes of vehicles, toTeré runs on alternative energy forms such as electric cars and hybrids. It is quite clear based on the effects of climate change and the need to be more responsible for the environment that there will be more demand for these vehicles in the near future. Various government policies also affect the decision to produce such vehicles. The ability to predict such consumer trends is a factor of sustainability of economic development.