Question

Explain four ways in which our social cultural attitudes affect the economic development in Africa

Answer 1

Four ways in which our social cultural attitudes affect the economic development in Africa:

(1) Our culture affects economic activity through the choices that our African people make about how to allocate scarce resources. So our culture influences economic activity by influencing the constrained optimization problems.

(2) In African countries, where cultures with a higher concentration of values are achievement orientated, they are experiencing more rapid economic growth. Example: South Africa

(3)In African countries where independence is emphasized in children's upbringing, the economy is frowing faster in those African countries.

(4)African countries which are restricting themselves from modern technological knowledge due to their social and cultural beliefs, are not developing economically in a better way.

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