Economic factor:
A economic factor is the financial state of a country or a person. This factor affects how a person/ country in many ways. i.e how the country’s individuals are educated, the type of technology available to a country etc. I will discussing how this factor affects a country locally and globally.This factor influences many LEDC countries this is because money is needed for you to purchase technology, it is important for countries to be up to date with technology this is because if only MEDC countries purchased the latest technology it would cause a divide because LEDC countries wouldn't be able to purchase it, because of their financial state. Many LEDC countries prioritise with their spending this is because if a EDC country for example spent all their money on technology it would mean other areas such as education and their basic standard of living.This means that people in LEDC countries prioritise their spending in order to ensure they have a good way of life in all aspects. In comparison, majority of people in MEDC countries are able to afford the latest of technology this is due to higher percentage of job opportunities in MEDC countries in comparison to LEDC countries.
A economic factor is the financial state of a country or a person. This factor affects how a person/ country in many ways. i.e how the country’s individuals are educated, the type of technology available to a country etc. I will discussing how this factor affects a country locally and globally.This factor influences many LEDC countries this is because money is needed for you to purchase technology, it is important for countries to be up to date with technology this is because if only MEDC countries purchased the latest technology it would cause a divide because LEDC countries wouldn't be able to purchase it, because of their financial state. Many LEDC countries prioritise with their spending this is because if a EDC country for example spent all their money on technology it would mean other areas such as education and their basic standard of living.This means that people in LEDC countries prioritise their spending in order to ensure they have a good way of life in all aspects. In comparison, majority of people in MEDC countries are able to afford the latest of technology this is due to higher percentage of job opportunities in MEDC countries in comparison to LEDC countries.