Economicseducation

EXPLAIN FIVE POSITIVE AND NEGATIVE EFFECTS OF INDUSTRIALISATION

Positive Effect of Industrialisation

  1. Productivity: There will be increase in the production of goods and services.
  2. Increase In Population: The population growth rate will increase because there is means for the people to increase birth and to take care of the aged.
  3. Increase In Technology: There is splurred technological development in the means of production of goods and services.
  4. Job Opportunities And Increase In Education: there are more jobs availability due to the new opening of industries around one’s location.There are more educational opportunities, because workers are trained on the use of new machines and equipments.
  5. No Foreign Aid: The country will not depend on other countries for survival since it can produce using its own resources and means.
  6. Availability Of Goods And Services: There is variety of goods services available to the people for consumption.

The Negative Effects Of Industrialisation are:

  1. Pollution: There is lot of pollution from industries due to fumes and smoke coming out of the industry during production, mostly when the machines are been operated upon.
  2. It Leads To Rural-Urban Migration: Due to the availabilities of better industries that can pay well in the cities, people at the village migrate to the city to offer better services at good pay. So therefore, there is migration to cities by those in the village.
  3. Result In Health Issues: Some due to being overworked are easily overstressed and die young.There are also health issues like obesity, because the workers have no time for other curricular activities.
  4. Lack Of Freedom: The working and waking hours of the workers are dictated.
  5. Mental Disorder: There is meteoric rise in mental illness and stress.

STRATEGIES OF INDUSTRIALISATION

  1. Import-Substitution strategy: The import-substitution strategy involves deliberate attempt by
    government aimed at encouraging the growth of industries within the country which produces ngoods and services which would otherwise have been imported.
  2. Export Promotion Strategy: Export promotion strategy is also a deliberate government policy aimed at encouraging the production of commodities for export.
  3. Small Scale And Large Scale Development Strategy: Government can also encourage the development of small and large scale industries with the aim of developing the industrial sector of the economy.

Question: What do theories of firm in Economics attempts to explain?

In economics, the theory of firm attempts to explain the reasoning behind why firms exist, why they operate and produce as they do, and how they are structured.

Discuss the scientific theory of management as profounded by Frederick Taylor

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Oluwamuyide Peter

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