this production system are mostly kept in traditional system in most developing country’s (Gizaw et al., 2010). in the crop livestock mixed system of the highland areas has a very important role in contributing to the food security as well as in generating direct cash income ILRI (1999). And they are very important in agriculture because of their integration with crop rotation to take advantage of nutrient cycling. They can also be an added source of income by diversifying farm enterprises and thereby rendering a farm more sustainable (Rinehart, 2008). In Ethiopia, sheep contribute a quarter of export and domestic meat consumption.
India has also cooperated in Ethiopia’s sugar production though there are certain realistic challenges. The investments are to double from Indian side and they are generating Employment and skills transfer. There are also diversifications of investment sources to Ethiopia. India’s Aid and investments are planned to encourage India’s strategic economic objectives in
To what extent did the technological developments of the Industrial revolution contribute to economic change in the period The Industrial Revolution sparked a new era of economic growth. It created many doors of opportunities for everyone. The Industrial Revolution introduced to us many important technological developments which forever changed the way goods and products were manufactured. The technological developments contributed to economic changes significantly, many of the developments assisted the growth of the economy, such as the factory system, which revolutionised the way products are manufactured. The factory system was a vital technological development which greatly affected the economy by producing goods more efficiently and at a larger scale.
Therefore, the leading agricultural product are cattle, which are raised for beef and milk. Farmers also raise chickens, goats, and sheep. Additionally, the leading crops include beans, corn, sorghum, and sunflowers (Picard). Even though, not much of the land in Botswana is ideal for productive farming. Therefore, Botswana’s major imports are foodstuffs from South Africa and Zimbabwe.
In economics, growth is mean by the increases of long-term capital per output of a country. Changing in technology is one of the major factors that impact the economic growth. In the growth of long-term, the economic environment of improving the technology can affect the productivity by more or lesser efficiency. Technology is defined as the production, qualification, utilization, and instruments of information, machines, strategies, frameworks, and techniques for association to solve the issue, enhance a previous answer for an issue, or accomplish a goal (Boundless, 2016b). The government of a developing country attempts to guarantee that the advances, aptitudes, learning, and strategies for assembling are tried and grown with the goal that
The model then assumes that these profits will be reinvested in the business in the form of more fixed capital. Firm’s productive capacity is thus increased and entrepreneurs will demand a greater amount of labor. More workers will be employed from the surplus found in the agriculture sector. The process continues until all surplus labor from the agriculture sector has been employed. The manufacturing sector will have grown and the economy moved from a traditional agricultural economy to industrial modern sector.
Definition Entrepreneurship, economists, politicians, community leaders and citizenship are usually interested in the economic growth of a country and how it affects business cycles in the end. Mohr et al. (2015:410) define economic growth as the annual rate of increase in the total production or income in the economy while Noel, T. P. (2012) refers economic growth as an increase in the productive capacity of an economy as a result of which the economy is capable of producing additional quantities of goods and services. The importance of economic growth From economists’ perspective, economists must be able to analyze a country’s current economic environment. Mohr et al.
Technological change impacted many factors involving the way things were powered, how goods were manufactured, how people communicated and the ways goods were transported and also allowed the industrial revolution to expand rapidly. Socio-economic related to the interaction of social and economic factors in society. In the Industrial Revolution, socio-economic initiated significant change through Population Growth/Urbanization, Mechanization, Industrialization, Mass production/Expansion of trade, Developments in transportation and the rise of Capitalism. These were only some of the change during the Industrial Revolution. The summary answer to the reason why technological and socio-economic are the main features of the Industrial Revolution is that they both are responsible for the change and impact during the 18-19th century and today's society.
The shift from traditional import substitution policies to export oriented policies in these countries has long term policy implications for many of the developing countries including India. In the Newly Industrialized Economies from East and South East Asia, the general macroeconomic policies as well as selective export promotion policies facilitated the high export and economic growth. Import substitution means the kind the policies that initially substitute domestic production of previously imported simple goods and gradually shift to the production of complex goods. Import substitution basically encourages the greater industrial diversification which finally leads to the ultimate ability to export goods due to the economies of scale, low labor costs and various positive externalities. But considering it to the traditional means South East Asian countries relied heavily on export-oriented or export promotion trade
Agricultural sector apart from meeting the food requirements of the people, also supplies the raw materials demanded for industrial growth. Thus it could be understood that development of agricultural sector is a precondition for India’s economic growth. Since independence Indians have always relied upon agriculture for development. Share of agriculture in gross domestic product (GDP) was around 51.8% during 1950-51 which declined to 50% during 1955-56 (CSO). The five year plans have accorded priority to agricultural development for improving the GDP.