A country is economically rich if

Assessment: WAEC SSCE - Economics - 2001 (Objective) Subject: Economics

Question 1 Report

A country is economically rich if
Answer Details
A country is economically rich if it has a large volume of goods and services relative to its population. This means that the country has a high level of production and output, which translates to more goods and services being available for consumption by its citizens. This also implies that the country is able to generate high levels of income and wealth, and is likely to have a high standard of living. The other options listed may contribute to a country's economic well-being, but they are not sufficient on their own to determine if a country is economically rich.

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