How to identify a rich country or poor country? ~ Ofuran

How to identify a rich country or poor country?

How to identify a rich country or poor country? 

Consider the country's all income sources. Here the nature of natural resources and the amount of production will also be considered. For example, cotton is the beginning of the list of all the fibrous plants in the world.

Based on the production of cotton, America, India or China is considered as a prosperous country. India is the second largest producer of jute in the world in the list of fiber plants.

Again, America, England, Germany and Austria are among the first countries to produce precious minerals such as coal. Thus, depending on the country which is rich in any kind of wealth and its needs in the external world, the country's well-being can be determined.

It is not only rich in wealth, but also the success of a country depends on investing in those places in the right place. In this step some questions have to be understood whether a country is using its resources properly. The questions are,

i) What resources can be used to produce goods?

ii) What are the methods and costs of those production?

iii) Who will buy the product and why?

For example, Bangladesh is a very rich country in the mineral resources, but we can not name the list of the countries in the world's rich countries, because there is no necessary method to utilize these minerals or the capital is present in our country.

Each country has its own funding policy. On the other hand, the economic development of the country depends a lot. For example, in Asia, South America, Africa and the Pacific, traditional methods are funded.

The higher export rate and the lower loan rate, make a country more rich

That is to say, funding similarly for the ages. Many countries are financed by the direction of senior officials. Here the government is largely the mainstay of financing. The economic success of a country depends on how well a policy is.

Look at economic progress. The rate of service or product production is considered as a measure of economic growth. In a period of time, if the rate of production of services or products is higher than that of population, then it is called economically sound country.

Export and calculate the amount of credit. Wikipedia is very easy to export and loan amount of any country. The higher the export rate and the lower the loan rate, the country is so rich.

Gross Domestic Product, GDP! If you want to work perfectly on the economy, then the word that will turn your head around with a lightning word is that of GDP.

In a country, within a specific time, the rate of product production is called GDP. If GDP increases, the living standard of the people of the country increases. The GDP depends on the following variables.

i). What is the average production of a worker per hour.

ii) How many hours a worker works on average.

iii) Earning capable population.

iv) Total population.

Inflation rate, in a country where the rate of inflation is low and economically advanced in the country.