Question

Why is Japan good economically even though it is a small country? explanation

Answer 1

Answer:

Japan is good economically even though it is a small country because of the following reasons

• High rates of investment in productive plant and equipment
• The application of efficient industrial techniques
• A high standard of education
• Good relations between labour and management
• Ready access to leading technologies and significant investment in research and development
• An increasingly open world trade framework
• A large domestic market of discerning consumers, which has given Japanese businesses an advantage in their scale of operations.