Key ideas
Many non-industrialized nations became export economies specializing in exporting raw materials to industrialized nations.
Export economies existed in both colonized and independent nations.
Export commodities produced food, metals and minerals, and industrial inputs (raw materials used factory goods).
Most export economies were in Africa, Asia, and Latin America.
How various environmental factors contributed to the development of the global economy?
The need for raw materials for factories and increased food supplies for the growing population in urban centers led to the growth of export economies around the world that specialized in commercial extraction of natural resources and the production of food and industrial crops.
What factors influence global economy?
Factors affecting global economy.
Natural resources;.
Infrastructure;.
Population;.
Labour;.
Human capital;.
Technology;.
What economic factors contributed to the imperialism in the global economy between 1750 1900?
Industrial nations controlled bought or controlled most of the world's commodities and natural resources. Control over global commodities and raw materials like palm oil, cotton, and copper allowed industrial nations to expand industrial production and control the global economy.
How is economy related to sustainability and environmental factors in development?
Sustainability of development is supported by the fact that economic growth contributes to the improvement of production technologies in the direction of environmental friendliness, thereby ensuring sustainable development.