Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter19: Economic Growth In Developing Nations
Section19.2: The Process Of Economic Development
Problem 4R
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Question
What are the five causes of industrialization?
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Step 1
Industrialization refers to the process of economic transformation where an economy is shifting from agricultural based to industrial one. The focus is on opening up new industries on a large scale and expanding the existing one.
The industrialization creates a variety of manufactured produced with a great volume to improve the standard of living of people of the country.
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