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The more Natural Resources a country has, the faster it will grow, all other things held equal (that is, assuming that the country does not have an abnormal situation with morale or labor or transportation that would interfere with the country's growth).
This is due to two big reasons, and several small ones I won't go into. I'll start with the most practical: The country in question can consume the resources as it works toward its own advancement, especially if the technology they are using is already known or freely shared from another source.
there is not necessarily any real correlation some of the country's of the world where a great deal of wealth is extracted from the earth the people live in abject poverty. South Africa is a good example. In many other places that produce various minerals and oil the country and its people are the beneficiary's of the pollution and the leaders usually propped up by wealthy Western country's reap the wealth.
What else can I help you with?
What is the primary impact of natural resources on the economic growth of developing nations?
An over dependence can cause slower economic development
What East-Asian country has become increasingly active in purchasing and investing in the development of Africa's natural resources which it needs to fuel its own rapid economic growth?
China
How do Russia's harsh climate and few navigable rivers affect its economic development?
Its Natural Resources.
The role of natural resources in economic transformation?
Natural resources play a crucial role in economic transformation by providing the raw materials necessary for industrialization and development. They can drive investment, create jobs, and stimulate technological advancements, particularly in resource-rich countries. However, reliance on natural resources can also lead to challenges such as economic volatility and environmental degradation if not managed sustainably. Effective governance and diversification are essential to ensure that natural resources contribute positively to long-term economic growth.
What are economic resources including natural resources and capital resources?
factors of productions
What has the author Josef Falkinger written?
Josef Falkinger has written: 'A Theory of Employment in Firms' 'Distribution of natural resources, entrepreneurship, and economic development' -- subject(s): Economic development, Entrepreneurship, Natural resources
The economic development of the South has been shaped by its natural resources and a climate that is?
warm
What theory being observe in Philippines?
One theory being observed in the Philippines is the "Resource Curse Theory," which suggests that countries abundant in natural resources may face challenges such as corruption, economic instability, and slow development due to mismanagement or overreliance on these resources. The impact of this theory is being studied in the context of the Philippines' rich natural resources and how they contribute to the country's overall economic development.
Why are the natural resources in Venezuela important?
Natural resources in Venezuela, like oil, gas, and minerals, are crucial for its economy as they generate revenue through exports. These resources play a significant role in shaping the country's economic development and providing employment opportunities. Additionally, they contribute to the country's overall global influence and geopolitical importance.
What is the primary impact of natural resources on the economic growth of developing nations?
An over dependence can cause slower economic development
What East-Asian country has become increasingly active in purchasing and investing in the development of Africa's natural resources which it needs to fuel its own rapid economic growth?
China
How do Russia's harsh climate and few navigable rivers affect its economic development?
Its Natural Resources.
What has the author John Vereker written?
John Vereker has written: 'Managing resources for development' -- subject(s): Conservation of natural resources, Developing countries, Economic conditions, Economic development projects, Economic policy, Management, Resource allocation
What is advantages of natural resources?
An advantage of Natural Resources would be the option for renewable resources.
Why do some economists think that human resources are more important than natural resources in determining a countrys future?
Human resource contains immense importance and plays a fundamental role in the development of a country. skilled and trained human resource is necessary for proper utilization of natural resources. since human resource is an active ingredient while natural resource is passive in a way of development.
What are the Positive effects of economic growth?
infrastructure development,positive externalities and non-exhaustion of natural resources
How do Russia's harsh climate size and few navigable river affect its economic development?
Its Natural Resources.
