ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -It was the military expansion in the 1930s that created an artificial shortage of mineral resources, the wholesale exodus of population, and a lowering in the standard of living of the general public.

Detailed explanation-2: -What was the Japanese solution for its lack of natural resources? Japan began to acquire nearby territories.

Detailed explanation-3: -Expert-Verified Answer Japan became a developed country despite being poor in natural resources : (i) They have invested in human resources. (ii) They import the required resources for their industries. (iii) Efficiency of the people has made the country rich.

Detailed explanation-4: -The reasons are: (i)Japan have invested in human capital especially in the field of education and health. (ii)The skilled and trained people have made efficient use of other resources like land and capital. (iii)Efficiency and technology evolved by people have made there countries developed.