Paper analysis Essay Example | Topics and Well Written Essays - 1000 words

Paper analysis - move ExampleThe surplus agricultural products will feed both the people working in the nurture and those in other sparing sectors.On the other hand, lack of adequate natural resources is not a limitation to economic growth because In the process of economic growth, economic activities depend much more on the use of physical and humankind capital. Countries like Japan and other South East Asia countries contribute made themselves economic growth with limited natural resources endowments, and have used more of the physical and human capital.Human resource is the physical labour and the stock of labour in the form of skills. A wide-ranging labour force implies a more productive manpower to offer services to the various industries. A strong education based economy can produce a skilled labour force. This in return will improve the living standards of its employees through the salaries the workers receive from the services they lender.(iii)Capital contributes to th e growth by overcoming the bottlenecks in factory farm. The limited availability of fertile land for cultivation can be overcome by raising arable land production via intensive farming.According to Walter Rostows, describes economic development to follow a certain order to achieve full development of the economy. He argues that within civilization chronological economic stages of modernization are followed. Walter identifies five stages these stages include2.The precondition of take-off this is the second stage of development. During this stage of development, the rates of enthronisation are getting high. This kind of development comes as a result of the industrial revolution. The produce from agriculture is, therefore, further processed in the developed industries. Workforce of the primary sector becomes redundant. This stage may put out for about a century.3.The take-off in this stage there is dynamic economic growth. The main feature in this platform is the capability of the e conomy to withstand its progression. This