A major limiting factor to the development of industries in the developing countries is?
Answer Details
One of the major limiting factors to the development of industries in developing countries is a low level of capital formation. This means that there is not enough money or financial resources available to invest in the development and growth of industries. Without sufficient capital, it is difficult for industries to acquire the necessary machinery, technology, and other resources needed for production. This leads to a lack of development in the industrial sector, which can further impact economic growth and development. As a result, countries with low levels of capital formation may struggle to attract foreign investment, generate employment opportunities, and improve the standard of living for their citizens.