CA Foundation Exam > CA Foundation Questions > In pre-industrial times, which of the followi...
Start Learning for Free
In pre-industrial times, which of the following contributed the most to a country's economy?
- a)agriculture
- b)trade of agricultural products
- c)manufacture
- d)trade of manufactured products
Correct answer is option 'D'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
In pre-industrial times, which of the following contributed the most t...
Even though the economy was primarily agrarian, the revenues from trade mainly arose out of trade of manufactured products.
Most Upvoted Answer
In pre-industrial times, which of the following contributed the most t...
Trade of manufactured products
In pre-industrial times, trade of manufactured products contributed the most to a country's economy. Here's why:
Increased value
- Manufacturing adds value to raw materials, increasing their worth significantly. This value addition results in higher profits for the country through trade.
Diversification of economy
- Manufacturing allows for the diversification of the economy, reducing reliance on agriculture. This diversification leads to a more stable economy with multiple sources of income.
Creation of jobs
- Manufacturing industries create jobs for a large number of people, both skilled and unskilled. This helps in reducing unemployment rates and improving the standard of living.
Technology advancement
- Manufacturing requires the use of technology and innovation, leading to advancements in these fields. This, in turn, boosts the overall development of the country.
Export opportunities
- Manufactured products can be exported to other countries, bringing in foreign exchange and improving the country's trade balance. This boosts the overall economy of the nation.
In conclusion, while agriculture played a significant role in pre-industrial economies, it was the trade of manufactured products that had the most significant impact on a country's economy due to the value addition, job creation, technology advancement, and export opportunities it provided.
In pre-industrial times, trade of manufactured products contributed the most to a country's economy. Here's why:
Increased value
- Manufacturing adds value to raw materials, increasing their worth significantly. This value addition results in higher profits for the country through trade.
Diversification of economy
- Manufacturing allows for the diversification of the economy, reducing reliance on agriculture. This diversification leads to a more stable economy with multiple sources of income.
Creation of jobs
- Manufacturing industries create jobs for a large number of people, both skilled and unskilled. This helps in reducing unemployment rates and improving the standard of living.
Technology advancement
- Manufacturing requires the use of technology and innovation, leading to advancements in these fields. This, in turn, boosts the overall development of the country.
Export opportunities
- Manufactured products can be exported to other countries, bringing in foreign exchange and improving the country's trade balance. This boosts the overall economy of the nation.
In conclusion, while agriculture played a significant role in pre-industrial economies, it was the trade of manufactured products that had the most significant impact on a country's economy due to the value addition, job creation, technology advancement, and export opportunities it provided.
Free Test
FREE
| Start Free Test |
Community Answer
In pre-industrial times, which of the following contributed the most t...
A) agriculture
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Top Courses for CA FoundationView all
In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer?
Question Description
In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer?.
In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer?.
Solutions for In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice In pre-industrial times, which of the following contributed the most to a country's economy?a)agricultureb)trade of agricultural productsc)manufactured)trade of manufactured productsCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup