1 1 . The most important obstacles to economic development among the poor nations of the world are

(a) a low investment rate, which is a reflection of the vicious circle of underdevelopment;

(b) rapid population growth;

(c) political instability, which reduces the security of property rights and thereby retards investment, and

(d) waste and inefficiency, which often result from both the attitudes of the work force toward material progress and the small size of some nations.