How can electricity communication and transportation facilities indicate the potential of industrial growth?

February 8, 2020 Off By idswater

How can electricity communication and transportation facilities indicate the potential of industrial growth?

How can electricity, communication, and transportation facilities indicate the potential for industrial growth? [Greater electrical generation capacity, greater use of telephones and the Internet, and a greater availability of transportation via rail, highway, and airline can indicate a greater potential for increased …

How industry is the strong base for economic development?

Industry is viewed as leading sector to economic development. We can have economies of scale by applying advanced technology and division of labour and scientific management. So production and employment will increase rapidly. This will bring economic growth and capital formation.

How does industrialization affect the economy of a country?

Industrialization changes the pattern of foreign trade in the country. It increases the export of manufactured goods, which are more profitable in foreign exchange. But at the same time, processing the raw material at home curtails the import of goods, thereby helping to conserve foreign exchange.

Why is the industrial sector important to the economy?

Increased Employment Opportunities Industrialization provides increased employment opportunities in small- and large-scale industries. In an industrial economy, industry absorbs underemployed and unemployed workers from the agricultural sector, thereby increasing the income of the community.

How can the size of industrial service sector?

The size of the industrial/service sector and the agriculture employment rate indicate the level of industrialization because a nation with a larger industrial/service sector will have a higher level of industrialization, and a nation with a higher agriculture employment rate will have a lower level of …

What is industrial growth?

A growth industry is that sector of an economy which experiences a higher-than-average growth rate as compared to other sectors. Growth industries are often new or pioneer industries that did not exist in the past. Their growth is a result of demand for new products or services offered by companies in the field.

What are the 5 factors of industrialization?

Factors that influence industrialization include natural resources, capital, workers, technology, consumers, transportation systems, and a cooperative government.

Why industry is important for a country?

Industrial Sector is of great importance for economic development of country. Industrial development reduces dependence on agricultural exports to earn badly-needed foreign exchange. An industrialized nation is always economically stronger and thus capable of defending itself against any aggression.

What are the benefits of industrialization?

Through industrialization, machines help people do their work more quickly. As productivity is optimized, more products are made, and therefore, the surplus results in cheaper prices. Some may argue that this advantage is the most significant one as it affects economic growth immensely.

What are the effects of industrialization?

Industrialization has brought economic prosperity; additionally it has resulted in more population, urbanization, obvious stress on the basic life supporting systems while pushing the environmental impacts closer to the threshold limits of tolerance.

What are the problems of industrial sector?

Industrialization in India: Problems and Obstacles

  • Poor Capital Formation:
  • Political Factors:
  • Lack of Infrastructural Facilities:
  • Poor Performance of the Agricultural Sector:
  • Gaps between Targets and Achievements:
  • Dearth of Skilled and Efficient Personnel:
  • Elite Oriented Consumption:
  • Concentration of Wealth:

How can fertility rates affect scarce resources?

How can fertility rates affect the scarce resources? The higher fertility rates, the more resources will be needed. Especially ones like water, land, and more. They can indicate living systems because GDP are lower, poverty rates are higher.

What was the average cost per job during industrialization?

Neither can the capital intensity of industrial investment explain the low volume of industrial employment. The average cost per job in industry was 380,000 AD (US$70 to 80,000), varying from 600,000 AD in the ISMME to 110,000 AD for the textile industries (Conf�re Etude de l’Agence Nationale pour l’Am�nagement du Territoire, 1985).

How does the spread of industrialization affect agriculture?

The spread into the rural areas of industrial activities associated with the development of social and economic infrastructure, and administrative, communication and socio-cultural facilities, has made it possible so far to keep the bulk of the non-agricultural population outside the trig urban centres.

Which is a possible sign of increased industrialization?

[Greater electrical generation capacity, greater use of telephones and the Internet, and a greater availability of transportation via rail, highway, and airline can indicate a greater potential for increased industrialization.]

What was the percentage of people employed in agriculture in 1966?

Despite a sharp relative decline in the agricultural population, from 49.6%, in 1966 to 22% in 1983, the number employed in agriculture changed little over the period 1966-85 (852.000 in 1966: 692.000 in 1977: 854.000 in 1983: and 1.010.000 in 1985).

[Greater electrical generation capacity, greater use of telephones and the Internet, and a greater availability of transportation via rail, highway, and airline can indicate a greater potential for increased industrialization.]

How can electricity indicate the potential for industrial growth?

[A larger industrial and service sector, and a larger number of people working outside of agriculture, can indicate a higher level of industrialization in the economy.] How can electricity, communication, and transportation facilities indicate the potential for industrial growth?

How did the Fourth Industrial Revolution affect agriculture?

The automation brought about by the advent of the fourth industrial revolution has helped in the transition process. Talking about the Agriculture sector — apart from technology, factors like climate, arable land, technological access & availability of human labor affect the production in this sector.

How big is the services sector in the world?

⮚ Services make up for at least 50% of the GDP in over half the countries around the globe & accounts for almost 65% if the World’s GDP. ⮚ The Services sector is performing well despite the world economy beginning to slow down and a softening of the U.S Labor market.