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The three factors of production required for industrialization were land, labor and capital.
Land meaning that the place that is being industrialized has a sufficient amount of Natural Resources.
A country needed a growing population in order to have people to work in the industry, which is what the labor stands for.
Capital indicates the country must be financially stable, and the people must have money to spend on the products being made.
Human capital is subcategory inside capital. People must have the skills and abilities to carry out the job.
What else can I help you with?
What activity did not contribute to the economy of the middle colonies?
The middle colonies, known for their diverse economy, primarily engaged in agriculture, trade, and crafts. Activities such as subsistence farming or limited-scale barter did not significantly contribute to the overall economy, as they were less focused on market production and trade. Instead, the economy thrived on larger-scale farming, especially grain production, and a robust trade network. Consequently, any activity that remained local and non-commercial had minimal economic impact.
What type of economy was the USSR?
Russia had a totalitarian ecomomy while they were part of the Soviet Union.
Was artistry the backbone of the economy in the Roman Empire?
No, art has never been the backbone of any economy anywhere in the world and at any time in history.
How stable is North Korea's economy?
North Korea practices a trade policy of autarky, which is defined as being completely self-sufficient, as a country, in the production of goods and services. North Korea is a perfect example of why attempting autarky in a modern economy is completely nonsensical. No country can provide all of the types of raw materials and foodstuffs necessary to sustain the levels of population and industrial production prevalent in any modern society. As a result of autarky, the country remains in grinding poverty.As a result of autarky, North Korea's economy is incredibly stable, meaning that it does not have large rises or falls. Rises and falls in an economy usually come from investment, speculation, international trade spikes, fads, and entrepreneurship. Since North Korea has none of these things, its economy does not fluctuate. However, this stability is undesirable since it is consistent poverty with no chance for improvement.
How did economic geographic and social factors encourage the growth of slavery as an important part of the economy of the southern colonies between 1607 and 1775?
does any body know the answer of this question: § "How was geographic location important to economic, social, and political development of ancient Rome?"
What are factors of production name any four factors of production.?
Factors of production
What is last factor of production?
The factors of production are resources that are the building blocks of any economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, entrepreneurship and IT.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
What is an economy in which the government makes the decisions of goods production?
A command economy is one in which the government makes decisions regarding production, consumption, and all other aspects of the economy. It is a primary feature of any communist society.
Where on a production possibilities curve an economy working below its most efficient production levels is shown?
At any point of underutilization/any point inside of the curve
Draw and explain a production possibility frontier for an economy that produces milk and cookies What happens to this frontier if disease kills half of the economies cow population?
If a disease kills half of the economy's cow population, less milk production is possible, so the PPF shifts inward (PPF2). Note that if the economy produces all cookies, so it doesn't need any cows, then the production is unaffected. But if the economy produces any milk at all, then there will be less production possible after
Vocal production in any given culture could be affected by environmental or technological factors. True False?
Vocal production in any given culture could be affected by environmental or technological factors.
When an economy is at full employment and full production more of any one product?
can be produced only if there is less production of some other products.
Why is money a factor of production?
money acts as a factor of production. it is because the other factors of production are indirectly dependent on money. more the money paid to any factor of production more it will work. hence money encourages other factors of production to work more.
Which is not one of the three coordinating tasks facing any economy?
Marigold
Does an economy that is inside its production possibilities curve face any trade-offs?
If there are opportunity cost, then yes my friend, they do.
What 3 factors affect the history of any nation?
The 3 factors that affect the history of any nation have always been a) Economy b) People and c) Wars ofcourse.
