A fundamental reason for a country's development of advanced and specialized factors of production is often its:______.

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03-08-2022
Business

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A fundamental reason for a country's development of advanced and specialized factors of production is often its:______.

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smecloudbird17 smecloudbird17 · Answer 1 · 2022-08-17T08:44:39-04:00

Lack of basic resources.

A fundamental reason for a country's development of advanced and specialized factors of production is often its lack of basic natural resources.

Natural resources, both renewable and non-renewable, and ecosystem services are a part of the real wealth of nations. They are the natural capital out of which other forms of capital are made. They contribute towards fiscal revenue, income, and poverty reduction.

The advanced and specialized factors of production are the resources people use to produce goods and services. they are the building blocks of the economy because of the fact that they help in the development of a country.

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