CA Foundation Exam > CA Foundation Questions > In pre-industrial times, which of the followi...
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In pre-industrial times, which of the following contributed the most to a country's economy?
- a)trade of manufactured products
- b)trade of agricultural products
- c)manufacture
- d)agriculture
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
In pre-industrial times, which of the following contributed the most t...
- During pre-industrial times, economies were largely based on agriculture, which was the primary contributor to a country's economy.
- While trade, including the trade of agricultural products, played a role in economic development, it was agriculture itself that was the foundation of economic sustenance during that period.
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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.
Community Answer
In pre-industrial times, which of the following contributed the most t...
A) agriculture
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In pre-industrial times, which of the following contributed the most to a countrys economy?a)trade of manufactured productsb)trade of agricultural productsc)manufactured)agricultureCorrect answer is option 'D'. Can you explain this answer?
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In pre-industrial times, which of the following contributed the most to a countrys economy?a)trade of manufactured productsb)trade of agricultural productsc)manufactured)agricultureCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2025 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 countrys economy?a)trade of manufactured productsb)trade of agricultural productsc)manufactured)agricultureCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 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 countrys economy?a)trade of manufactured productsb)trade of agricultural productsc)manufactured)agricultureCorrect answer is option 'D'. Can you explain this answer?.
In pre-industrial times, which of the following contributed the most to a countrys economy?a)trade of manufactured productsb)trade of agricultural productsc)manufactured)agricultureCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2025 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 countrys economy?a)trade of manufactured productsb)trade of agricultural productsc)manufactured)agricultureCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 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 countrys economy?a)trade of manufactured productsb)trade of agricultural productsc)manufactured)agricultureCorrect answer is option 'D'. Can you explain this answer?.
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