How can Industrialisation assist in bringing in foreign exchange?

Which of the following development is usually followed by Industrialisation?

D electrification. After an industrial activity begins in a region, urbanisation follows. Industrialisation and urbanisation happen simultaneously as industries are generally set up in or around cities or cities develop around them. Cities provide various services like markets, banking, transport, labour, etc.

What are the factors that determine the speed of industrialization?

Factors Influencing Industrial Productivity (Six Factors)

  • (i) Technological Development:
  • (ii) Quality of Human Resources:
  • (iii) Availability of Finance:
  • (iv) Managerial Talent:
  • (v) Government Policy:
  • (vi) Natural Factors:

How does industrialization help in economic development?

Role of industrialization in economic development

In industrialization there is optimum utilization of scarce resources. The quality and quantity of manufacturing sector increase. It increases the national income of the country. When industrial production increase that increase exports and revenues of the government.

How does Industrialisation contribute to the development 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.

IT IS AMAZING:  How tourism helps in economic development of a country Class 10?

What is the importance of Industrialisation?

In the interest of economy, rapid industrialization is important for generating employment opportunities, utilization of all types of resources, promotion of education, training and research, improving the productivity of labor and balanced regional development.

How did industrialization influence the economic and social development of societies?

How did industrialization influence the economic and social development of societies? –It promoted a new international division of labor. -Industrial powers obtained raw materials from preindustrial societies on unfair terms. -Some countries embarked on industrialization programs to avoid Euro-American domination.

What is the impact of Industrialisation?

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 resources are needed for industrialization?

Though many individuals went West for the Gold and Silver Rushes, companies mainly focused on minerals that were needed in production. Some of these minerals were coal, zinc, copper, limestone, and iron ore. Coal, iron ore, and limestone were the three most important minerals during U.S. Industrialization.

What is needed for a country to industrialize?

What does a country need to successfully achieve Industrialization? A country needs creative freedom, natural resources, labor force, government policies, and transportation.

What are the 6 factors of industrialization?

Terms in this set (6)

  • 1st factor. better transportaton.
  • 2nd factor. stable govt.
  • 3rd factor. stable economy.
  • 4th factor. human resources.
  • 5th factor. natural resources.
  • 6th factor. new technology.