Exploring the Relationship between Consumer Productivity and the Socio-Economic Development of LDCS

Abstract

The socio-economic development of less developed countries can be accelerated by employing strategies that are designed to improve consumer productivity. Consumer productivity is defined as the ratio of total utility obtained by consumers to the total resources (i.e. financial, mental and physical) spent by consumers. The paper explores ways in which the government and business can improve consumer productivity to achieve national development goals.