Question

Name and define the four types of country industrial structures g

Answer 1

The four types of country industrial structures are subsistence economies, raw material exporting economies, emerging economies, and industrial economies. In subsistence economies, majority of people engage in simple agriculture. They use most of their output and exchange the remaining goods and services. In raw material exporting economies, people are wealthy in some natural resources but poor in other things. Their income generates from exporting their resources. In emerging economies, there is a fast growth in production which results in fast overall economic growth. In industrial economies, they are the major exporters of produced goods, services, and investments. They exchange goods among each other and export them to other types of economies for raw materials.