With the exception of Austria-Hungary, new imperialism was entrenched in the policies of all the European powers. This frenzy to acquire colonies was due to the potential financial and psychological benefits that colonies provide. Financially speaking, the colonies can help European nation’s name economy by firstly providing the raw materials necessary for industrialization which were lacking in continental Europe. Secondly, after using the raw materials to produce the merchandise, the colonies provided a market where the European nations can sell their manufactured goods. Hence, new colonies can begin an exploitive cycle where the European nations take resources from their colonial subjects then profits exportation of completed goods
The policy that government should interfere as little as possible, and have free businesses
Is there answers to the question?
Answer:
Natural Resources. The discovery of more natural resources like oil, or mineral deposits may boost economic growth as this shifts or increases the country's Production Possibility Curve. ...
Physical Capital or Infrastructure. ...
Population or Labor. ..
Human Capital. ...
Technology. ...
Law.
Explanation:
