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(i) Stock of factors of production in terms of both quality and quantity.
- land (fertile or infertile)
- Labour (required skills or not)
- availability of good or bad infrastructure
(ii) The state of technical knowledge.
- whether there is know-how or not and whether the technology is appropriate or not.
(iii) Participation rate.
- proportion of economically active group compared to the general populace.
(iv) Political stability.
- whether the country is politically stable or not.
Dana05 answered the question on July 18, 2019 at 19:45
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