1. How can the presence or absence of natural resources and arable land affect a nation’s economy, regardless of the type of economic system? The presence or absence of natural resources do affect the economy in lots of ways. One way is by making that country very poor because they have nothing to export to get money. but if there is a natural resource that country can trade it, sell it and many other things. That makes that country have more thing and more money.

2. How can life expectancy and literacy rates affect the quality of labor in the economy? The life expectancy and the literacy rate can affect the quality of labor because if there is someone who wants to become a teacher and they don´t know how to read and write, they cannot teach so more and more people become illiterate. I there is someone who works and is like 40 years old, in Chad they are only expected to live until 45 so that person can be a little weak or sick or something so they don´t put that much effort to their work.

3. How can GDP per capita and poverty rates indicate standards of living in each system? The GDP and poverty rate are very important because if there is a country which has a very high GDP and a very low poverty rate like Japan, the people are expected to live a happier and longer life. So they work more and less people are illiterate. Those people should live in nice apartments, houses, town-houses, residences etc... If in one country there is a very low GDP and a very high poverty rate like in Chad the people are not expected to live such a long and happy life. They often live in the streets and they don´t have dinner every night! So they need to steal away somethings from rich people (well, at least richer than them) so the country becomes insecure and that might cause it to run out of money.

4. How can the size of the industrial/service sector and the agriculture employment rate indicate the level of industrialization? The size of industrial service and the sector of agriculture employment rate indicates the level of industrialization because if the agriculture employment is higher that the industrial service it means that the country is not very well developed yet. But if the industrial service is higher than the agriculture employment that means that the country is developing or developed.

5. How can electricity, communication, and transportation facilities indicate the potential for industrial growth? The electricity, communication, and transportation facilities indicate the potential of industrial growth because if there is more electricity, there are more factories and more imports and exports. If there is more communications, the people could all live with a telephone or a cellphone and live all communicated with their loved people who are far away. If there is more transportation there would be more tourists and more money for the country, if there are more airports, ports etc...

6. Considering the lack of natural resources, the labor problems, and the lack of capital and little industrialization of developing countries, how can developing countries develop? The developing countries develop by buying more technology and have expert teachers who can actually teach the students. The should also be more universities, but most of the help is to educate and teach children especially because they are the future.

Conclusion:

Market-oriented and command nations tend to place different priorities on the role of government in the economy, with the government sector generally playing a larger role in command nations. Given their resources, market-oriented and command nations can choose to focus on increased industrialization and expansion into new markets. Developing nations, however, often lack resources necessary for industrialization and must seek aid or investment from industrialized economies in order to grow. With increased globalization, we are becoming more acutely aware of the interdependence of all nations in our world economy.