In developing countries, the most inhibiting factor for industrialization is?
Answer Details
The most inhibiting factor for industrialization in developing countries is a "monocultural economy." Monoculture refers to an economy that depends on a single product, such as agriculture or natural resources. This kind of economy is vulnerable to fluctuations in the market, changes in commodity prices, and other external factors. Countries with a monocultural economy have a limited range of economic activities, making it difficult for them to develop industries and become self-sufficient. In contrast, a diversified economy that includes various industries and sectors is more resilient and can better withstand economic shocks.