Briefly describe the relationship between resources and the development of a country
Answers
The relationship between resources and development is a complex one for many reasons. Resources are naturally occurring things that a country needs either to trade or survive. For example: building space, arable land, water, coal, oil, gold, etc. Definitions of development vary greatly. The most widely accepted division of countries is the division between the “economic north†and the “economic southâ€. The economic north consists of More Economically Developed Countries (MEDCs) and Less Economically Developed Countries (LEDCs). Great Britain, North America, Japan and Australia are examples of MEDCs. Zambia, Ethiopia, Brazil and India are examples of LEDCs. Even within this clear definition there are differences, recently a new class of country, the Newly Industrialising Countries (NICs) has been introduced. Some NICs include Thailand and Indonesia.
It would be a fair assumption to make that a country with a large amount of natural resources would be more likely to develop fastest and furthest. This could be assumed because natural resources in a country would be likely to stimulate trade at first within that country, and later to outside countries. Large areas of arable land would stimulate population growth, and the presence of minerals such as gold or copper can be traded for industry. Resources such as oil and coal are vital to stimulate industrialism within a country. With industrialism, goods can be produced solely for trading with other countries that lack the resources to make them. With industrialism comes the tertiary employment industry, providing healthcare, sanitation and education. This would lead the way to social, political and economic development. This theory can, however, not be applied to all countries.
Answer:
Explanation:
The study on the relationship between the resources development and the economic development has been a hotly debated topic. The traditional economic theory emphasized the positive role of the abundant natural resources in regional economic development, while resource course theory holds the opposite view. Resources are important for the development of any country. For example, to generate energy, one need fossil fuels; and for industrial development, we require mineral resources. 6. Irrational consumption and over utilisation of natural resources has led to socio-economic and environmental problems