1950's Trade Policies of Pakistan

Economic growth comes form the use of natural resources. In the 1930’s, natural resources are what fueled the growth of the U.S. economy. The use of resources such as water, timber, coal, oil, and minerals were in very high demand. Even now there is still a market for these resources. The use of natural resources was very high in the 1930’s and the possible damage that the use of these resources was of little concern, or not even known at the time. In the 1930s the growth of the U.S. economy would become a burden due to the use of natural resources, how the resources were collected and extracted, and the impact that harvesting had on the environment. The main point of this article, is that the mass consumption and mass production is not always ideal.

And as a result of all this our country has been converted from an agrarian into an industrial country; for the proportion of industrial output, as compared with agricultural output, has risen from 48 per cent of the total in the beginning of the Five-Year Plan period (1928) to 70 per cent at the end of the fourth year of the Five-Year Plan period (1932)….

New technologies improved agricultural and industrial productivity. Growing cities provided markets and workers for industrial businesses. Products were allowed to reach distant markets because of improved railroad

Pakistan gained its independence in 1947, and was mostly under martial law until 1984, four years before the IMF started granting loans to Pakistan that would never be repaid. Despite having a historic culture and ample natural resources, Pakistan as a country cannot seem to keep it’s head above water financially. Doctor Ehtisham Ahmad of the London School of Economics says,“11 out of 12 IMF programs since 1988

farmed dramatically increased.This meant that there was a larger amount of crops going to the

After World War II, society experienced many changes due to economic growth. The reason for the rise in the economy is "… the developments in technology, methods of production, communication, and transportation..." (Background; lines 1-2). These changes "… led to far more goods and services for many people..." (Background; Lines 10-11).

The economy was growing because of many different factors, such as the increase of exports. These exports are increasing by 500 percent during this time in America. This was mainly because of the production of tobacco that was being exported. This area was mainly agriculture, so a big economic change was the growth of the plantation complexes; these complexes consisted of everything from the main home down to where the crops are grown. Sexual division of labor was also changing in the economy; the roles were different between male and females. The use of heavy plows and oxen teams kept woman out of agriculture during this time. Another major change was the economical inequality; the gap between the wealthy and the poor was becoming a economic issue, food riots were beginning to happen because of the amount of food in America. These changes force the economy to change in different

A rise in per capita GDP signals growth in the economy and tends to translate as an increase in productivity. (Investopedia, n.d.)

began where increased productivity created a much higher standard of living than had ever been

9. Describe important developments in communications and transportation during the Transition Period. Talk about how the backward linkages and forward linkages from these innovations increased growth.

The improvements in transportation and technology, gave way to the transition from home production to factory, as the factory needed the new technology in order to make the production of products more efficient, which meant large machines that were too big to keep in a worker’s home, thus, increasing the population in cities.

A third factor in growth occurred on the supply side: an increase in the sophistication and

considerably, from 8.3 cents to 21.5 cents. In other words, the equivalent tariff is 21.5 - 8.3 = 13.2 cents per pound, or a 159% tariff. The graph below - which is not to scale - shows how one can illustrate this import quota as an equivalent tariff._

     Agriculture has changed dramatically, especially since the end of World War II. Food and fibre productivity rose due to new technologies, mechanization, increased chemical use, specialization and government policies that favoured maximizing production. These changes allowed fewer farmers with reduced labour demands to produce the majority of the food and fibre.

This can be measured by the following formula; Per capita nominal GDP = Nominal GDP / Population, Per capita real GDP = Real GDP / Population. Seven factors determine economic growth. Natural resources such as land, mineral deposits, waterways; climatic conditions provide an essential foundation to economic growth. Combined with the other resources of capital, labor and enterprises, natural resources can be developed and organized to increase the productive capacity if the nation. Consequently the quality and size of the labor force is a major determinant of economic growth. Education and vocational training are essential the growth potential of a nation. The promotion of education and job training schemes increase the knowledge, skills and flexibility of the workforce that contributes to potentially higher levels of productivity and efficiency. Whether from natural increase or immigration population growth can cause a higher level of economic growth. An increasing population requires increased public spending on housing, education and other social needs while businesses expectations of