Analyse the economic structure of the world during 1890 and list the things that impacted the agricultural economy globally.
(i)Movement of Capital (Capital flow) (ii)Movement of Labour
(iii) Ecology
(iv) Technology
Answers
Answer:
(i) Capital flows refer to the movement of money for the purpose of investment, trade, or business operations. Inside of a firm, these include the flow of funds in the form of investment capital, capital spending on operations, and research and development (R&D).
(ii) The origins of the labor movement lay in the formative years of the American nation, when a free wage-labor market emerged in the artisan trades late in the colonial period. The earliest recorded strike occurred in 1768 when New York journeymen tailors protested a wage reduction.
(iii) Ecology is the study of the relationships between living organisms, including humans, and their physical environment; it seeks to understand the vital connections between plants and animals and the world around them.
(iv) Technology refers to methods, systems, and devices which are the result of scientific knowledge being used for practical purposes. Technology is changing fast. They should be allowed to wait for cheaper technologies to be developed.