Respuesta :
The correct option is, (D) The advancement of technology.
What are the factors that have contributed to the global economy?
Factors affecting global economy:
- Natural resources.
- Infrastructure.
- Population.
- Labour.
- Human capital.
- Technology.
- Law.
How does globalization affect the economy?
- In general, globalization decreases the cost of manufacturing.
- This means that companies can offer goods at a lower price to consumers.
- The average cost of goods is a key aspect that contributes to increases in the standard of living.
- Consumers also have access to a wider variety of goods.
How the economic development of a country depends on its environment?
- Availability of natural resources and its proper utilization are considered as an important determinant of economic development.
- However, an economy having deficiency in natural resources is forced to depend on foreign country for the supply of Minerals and other raw materials order to run its industry.
What is the most important factor in economic growth?
- Refers to one of the most important determinant of economic growth of a country.
- The quality and quantity of available human resource can directly affect the growth of an economy.
- The quality of human resource is dependent on its skills, creative abilities, training, and education.
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