population relies on A complex, corrupt, and More companies from around subsistence agriculture as a hefty tax system can the world are starting to have means of survival. sometimes make operating offices in India. a business in India difficult. Japan Japan’s economy is primarily Private businesses Japan’s population enjoys a market driven with supply determine their own high standard of living and Place on and demand determining production processes in creates a strong domestic Continuum what will be produced. most of the economy. market for goods and services. 73% The few industries that are The efficiency of Japan’s highly production and its reputation such as for quality products/services agriculture, have much lower has made it a major exporter. productivity rates than those industries controlled by market forces. N. Korea 2% China 53% India 54% Turkey 62% Saudi Arabia 64% Israel 68% Japan 73% SS7E10 The student will describe factors that influence economic growth and examine their presence or absence in India, China, and Japan. c. Describe the role of natural resources in a country’s economy. Japan is a great example of a country with few natural resources that has developed systems of production and trade that are so efficient that they have been able to develop one of the best economies in the world.
population relies on subsistence agriculture as a means of survival. A complex, corrupt, and hefty tax system can sometimes make operating a business in India difficult. More companies from around the world are starting to have offices in India. Japan Place on Continuum 73% Japan’s economy is primarily market driven with supply and demand determining what will be produced. The few industries that are highly such as agriculture, have much lower productivity rates than those industries controlled by market forces. Private businesses determine their own production processes in most of the economy. Japan’s population enjoys a high standard of living and creates a strong domestic market for goods and services. The efficiency of Japan’s production and its reputation for quality products/services has made it a major exporter. N. Korea 2% China 53% India 54% Turkey 62% Saudi Arabia 64% Israel 68% Japan 73% SS7E10 The student will describe factors that influence economic growth and examine their presence or absence in India, China, and Japan. c. Describe the role of natural resources in a country’s economy. Japan is a great example of a country with few natural resources that has developed systems of production and trade that are so efficient that they have been able to develop one of the best economies in the world.