Opportunities for Wealth in Poor Countries

What are some common reasons people in poor countries cite for their poverty?

• Natural disasters

• Colonization and bad political leaders

• Lack of education

• Overpopulation

How does a lower cost of living in poor countries benefit wealth creation?

• It allows for higher savings from income

• It limits business opportunities

• It increases the cost of goods

• It reduces the need for employment

Why is cheaper labor an advantage in poor countries?

• It leads to higher unemployment

• It attracts foreign businesses

• It increases the cost of production

• It limits economic growth

What is the significance of a large young population in poor countries?

• It leads to higher dependency ratios

• It creates a large workforce and consumer base

• It causes a decline in education standards

• It results in increased government spending

What problem does Andela aim to solve?

• Political instability

• Lack of educational institutions

• Shortage of skilled software developers

• High cost of living

How can foresight contribute to wealth creation?

• By focusing solely on traditional industries

• By avoiding technological advancements

• By identifying future opportunities and acting on them

• By predicting stock market trends

What is a future opportunity in agriculture according to the video?

• Reducing agricultural exports

• Increasing reliance on imports

• Developing agribusinesses powered by technology

• Focusing on subsistence farming

What is a key strategy for achieving success in business according to the video?

• Avoiding competition

• Replicating successful models from other countries

• Inventing completely new ideas

• Focusing on local markets only

How can individuals in poor countries participate in the global market?

• By investing in local businesses only

• By avoiding technology

• By outsourcing their skills and knowledge online

• By moving to developed countries

What basic requirement is needed to deliver services globally from poor countries?

• A large office space

• A laptop or smartphone with internet

• A government permit

• A high-speed train