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What impact does the location of resources around the globe have on countries and their economies?
Wiki User
∙ 11y ago
If resources are easily accessible for countries, they can trade these resources for other resources or goods they don't have. Resource surpluses can also be sold for a profit to other countries.
Wiki User
∙ 13y ago
Wiki User
∙ 11y agoSince claim to resources lies in geography, then those countries that have lots of valuable resources will be able to sell them to others for quite a lot. Those with high levels of education will also be able to sell that for a lot.
History would suggest that countries with huge levels of "found" money from Natural Resources tend to squander it in unsustainable ways rather than reinvesting in an economic base that can survive on its own. This is a parallel to the difference between individuals who created their own wealth and those who inherited it.
Wiki User
∙ 11y agoThe location affects how the industries grow
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What is a result of worldwide economic interdependence?
Because national economies around the world are interdependent, a recession in one can cause a chain reaction of recessions or contractions in the rest of the world's national economies. This is why the Great Recession in the United States (2008-2010) led to the Euro Crisis (2010-2012, probably further). The converse is also true - a recovery in one economy can bolster and support national economies around the world; this is also happening as the United States and China got their feet back underneath them, the economies of Australia and several European countries also stabilized.
When did economies begin?
has been around since 19th centry
What are the four basic economic systems around the world?
There are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like communism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success. Free-market and command (apex)
What do traditional economies revolve around?
it revolves around the family; rely on habit, custom or ritual. hope this helps <3
Was the Italian economy like the british centered around the military?
No, the Italian economy was not built around the military, and neither was Great Britain's. But note that growing navies needed steel for their new classes of large armored ship so the economies of the European countries (as well as the US and Japan) expanded their steel industries, which led to jobs in steel mills coal mines, shipyards, railroads, chemical companies, and similar industries that caused their economies to boom.
How does location affect a country's natural resources?
natural resources are all around the planet, however, some places have more resources than others, depending on their location. for example a place full of forests will have a great deal of wood that can be very usefull
Why were colonies needed by western nations?
The countries of Western Europe were relatively small and with limited amounts of natural resources within their borders. In order to grow their pre-industrial and industrial economies, they needed new sources of raw materials, and in some cases cheaper labor. Since the undeveloped countries of the world could not effectively resist militarily, European countries established colonies around the world.
Why did western nations want land around the Pacific Rim?
because of their natural resources and strategic location.
Why tropical countries are so poor?
It is because they are not as well developed. (2) many tropical countries are poor because they have been encouraged by earlier imperial rulers to base their economies primarily around crops that have no food value but only create an income by being exported to the affluent first world western countries: examples are tea, coffee, cocoa, sugar, cotton, tobacco, opium.
Why market economies are becoming popular around the world?
market economies are found in democratic forms of government
In which countries is the belief in polytheism found?
Polytheism can be found around the world, and surveys to determine the exact location in countries are reliant on the number of people that answer truly or at all.
What is a result of worldwide economic interdependence?
Because national economies around the world are interdependent, a recession in one can cause a chain reaction of recessions or contractions in the rest of the world's national economies. This is why the Great Recession in the United States (2008-2010) led to the Euro Crisis (2010-2012, probably further). The converse is also true - a recovery in one economy can bolster and support national economies around the world; this is also happening as the United States and China got their feet back underneath them, the economies of Australia and several European countries also stabilized.
When did economies begin?
has been around since 19th centry
What statement of the Great Depression is true?
each of the affected countries reacted in its own way, with differing results. <3 NoVaNeT <3
What event led European countries to seek natural resources in colonies around the world during the 19th century?
The Industrial Revolution
How did Nazis pay for everything?
Answer Part of the answer is that they did not have to. After war broke out, Germany attacked and conquered the countries around it and began taking their resources to use for their war effort. They plundered these countries to support their economy.
Which of theses events led European countries to seek natural resources in colonies around the world during the 19th century?
The Industrial Revolution
