Economic Factor by Ne Thi Somashekar in Development and Enviromental Economics

The following are the important factors  which determine the economic growth of an economy :

1.  Natural resources
2.  Capital formation 
3.  Technological progress
4.  Human resources 
5.  Population growth 
6.  Social overheads
7.  Organisation
8.  Transformation of traditional agricultural society

Some of the essential  non economic factors which determine the economic growth of an economy:

1.  Political factors
2.  Social and psychological factors
3.  Education
4.  Urbanisation
5.  Religious factors 

Obstacles to economic development:

1.  Economic factors : vicious circle of poverty, deficiency of capital, market imperfections, international forces, difficulty of adoption western technology, low agricultural productivity, and   lack of entrepreneurs.
2.  Non economic factors :  undeveloped human resources, politycal instability, sosio-cultural constraints, religious factors