Question
Discuss the stage of economic development.
Solution
Stage of economic development:
(i) At different stages of economic development of countries, the nature of items traded undergo changes.
(ii) In agriculturally important countries, agro products are exchanged for manufactured goods whereas industrialised nations export machinery and finished products and import food grains and other raw materials.
(i) At different stages of economic development of countries, the nature of items traded undergo changes.
(ii) In agriculturally important countries, agro products are exchanged for manufactured goods whereas industrialised nations export machinery and finished products and import food grains and other raw materials.
