Factors Of Production

Submitted By Gurleen-Sohi
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5. (After reading question #1) Along with the four questions provided for countries recovering from the impacts of slavery and colonization have to consider for their factors of production. Provide a real world example of a country that has been recovering from colonization with concrete examples of how that country is answering the questions about factors of production.
The country I picked was India.
How do we use our own resources to produce products for trade?
In India they use resources like forestry to produce firewood, paper, spices, drugs, herbs, gums, and many more, India has a lot of fish and has more than 400 species of fish, in 2006-2007 600,00 tons of fish was exported. They have oil as well; they have about 125 million tons of oil reserves as of April 2010. India also has a lot of natural gas; they have 1,437 billion cubic meters of confirmed natural gas reserves as of April 2010. Lastly India has a lot of minerals including copper, zinc, iron, chromite, garnet group, wollastonite, sillimanite group, illmentie, pyrophyllite, and, marble.
How do we get enough capital to build new factories?
In India people pay taxes, they work and some money goes to the government, they have natural resources which they can sell and they also make money from the industry’s they have. With this money they are making from the items listed they can build new factories.
How do we get the farming technology we need to grow large and healthy crops?
The farming technology has largely grown across India. There are tractors, combines, and many more. The technology has evolved over time. For example back when tractors were smaller they had little power so they could have gotten stuck or couldn’t have pulled the heavy equipment. Now the top tractors in India such as ford, john Deere, and TATA have more power so they can’t get stuck and they can pull the big heavy equipment. Also combines were smaller so they only harvested little crops at a time but now there are bigger ones so they harvest the crops faster. Also there are automatic sprinklers. With all this durable and reliable equipment the crops will be growing large and
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