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In my view, the principal change in the economy since the 1700s has been the shift from a largely agrarian, rural society to a largely urban, industrial/post-industrial society.
Just in advance of WW 1, the Japanese economy was heavily weighted in favor of agriculture and other non-industrial activities. This included farming, forestry and fishing. Japan's industrial base was yet to become a dominate factor in its economy.
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An agriculture economy is based on farming.
The Olmecs had a TRADITIONAL ECONOMY, where production was localized and primarily agrarian.
China's economy is changing from agrarian to industrial.
It had an agrarian economy.
The southern agrarian economy was dominated by wealthy landowners. An agrarian economy primarily relies on farming. The majority of these economies went away during the industrial revolution.
next economy following the agrarian economy, the industrial economy, and the most recent service economy.
China is still in a state of transition from a mostly poor, agrarian economy to a modern industrial economy.
In my view, the principal change in the economy since the 1700s has been the shift from a largely agrarian, rural society to a largely urban, industrial/post-industrial society.
The economy of agrarian societies was based on agriculture.
Then the industrial revolution would not have happened and we would all still be living in an agrarian economy.
In the north there is a lot of industry which account's for a lot of things, but in the south there is mostly agriculture.
Just in advance of WW 1, the Japanese economy was heavily weighted in favor of agriculture and other non-industrial activities. This included farming, forestry and fishing. Japan's industrial base was yet to become a dominate factor in its economy.
An "agrarian" economy.
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