Answer:
They include;
Land
Human Labor
Capital
Technology
Efficient transport and road networks
Education
International trade and relations
Natural resources
A serene political environment
Law
Explanation:
For a country to thrive economically, the following are needed;
1. Land: Before any transactions can take place, land is a primary factor that determines where and to what extent the exchange of goods and services can go.
2. Human Labor: The labor force of a nation consisting of the young and adult population put in effort to make transactions that will benefit the economy.
3. Capital: Investment in economic activities increase productivity and this improves the economy of the nation.
4. Technology: Technological inventions such as the internet and other improved devices ensure a smooth flow of information needed to process economic activities.
5. Efficient transport and road networks: Good roads and transport systems ensure a faster movement of people and products from one location to another.
6. Education: An educated population can better employ their acquired knowledge for the better functioning of the economy.
7. International trade and relations: The importation and exportation of goods among different economies determine their strength. An economy that exports most of its produce can have a stronger currency.
8. Natural resources: The natural deposits in a country such as oil, coal, gold, etc., can be processed for export to other countries.
9. A serene political environment: A tensed political space will cause interruptions in the smooth flow of activities in a nation. This in turn has a direct impact on the nation.
10. Law: When laws are made that favor economic policies, a smoother environment that allows for the transaction of economic activities is possible.
