why are the states rich in mineral resources economically backward?
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Answered by
14
Its not true for every state but,for most of the states which are rich in minerals but poor economically the main reason is that they lack in technology to produce finish product.So in most cases they sell the raw goods which cannot provide much income but if finished product of good qualities are sold in market they will definitely provide better income.Ya but it is true that to produce better good we have to invest more money but in this case also if we are good business views,ideas or technology we can make profits by marking the sell price of the goods according,which is not possible in case of raw goods.So presence of raw goods only doesn't makes a sate rich but a proper utilization of them can make a country richest.
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4
Answer:
this is because of following reasons:
1- illiteracy
2- scarcity of agricultural land
3- lack of small scale industries
4- disparity in income among the people
Explanation:
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