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Ans: Role of Agriculture in the economy of Pakistan: Pakistan is an agrarian country. Agriculture plays a very important role in the economy of the country. The role of agriculture in Pakistan’s economy is explained below: 1 Source of Food; Pakistan is in the list of those developing countries where the agriculture is comprehended as … Read more
Ans: Distribution of metallic & non-metallic minerals: (A) Minerals: Minerals are divided into 2 groups, metalic and non-metalic, In Pakistan, the metallic minerals include iron, copper, chromite, etc. The non-metallic minerals include petroleum, natural gas, common salt, limestone, marble, gypsum, etc. Their detail is given below: 1 Petroleum: For human kind, the importance of petroleum … Read more
Ans: Economic development of Pakistan from 1947 to 1970: 1. The First Period of Economic Development: (1947-1950) The industrial units which Pakistan had got as share after its creation were incapable of fulfilling the country’s needs. The source of income of the majority was agriculture. Before the creation of Pakistan the trade and industry was … Read more
Ans: Importance of Seaports of Pakistan: Pakistan’s seaports hold a position of great importance. Nearly all of Pakistan’s trade is carried out through sea-routes. For this purpose the oldest seaport in Pakistan is in Karachi which is of international standard. Here facilities are available for the loading and unloading of trade goods from ships and … Read more
Ans: International Trade of Pakistan: Some countries have a large quantity of mineral reserves. Other countries themselves goods for their needs at cheaper rates. Other countries are are very advanced in the field of agriculture. Some countries can produce obliged to export their manpower to foreign countries. The vast imbalance of goods of needs makes … Read more
Ans: Importance of resources of energy: Energy plays an important role in the economic development of a country. Electricity is an important source of energy which fulfils industrial and domestic needs. Natural gas is used for producing thermal electricity, in homes, industries, for cars and other needs. In Pakistan petroleum is an important source of … Read more
Industries of Pakistan: The role of industry in the economic development of a country is considered very important. It produces industrial goods and raw material and fulfils many of our needs. It brings new goods into the market and changes the way we spend. Following are details of the cottage, small and large scale industries’ … Read more
Ans: Important problems in agricultural sector: 1. Lack of Agricultural Inputs: Pakistani farmers are a victim of backwardness. Their financial condition is poor. The person who provides food for others is not getting sufficient food for himself. The procuring and usage of the following things is difficult for an average farmer, good quality seeds, chemical … Read more
Ans: Difference between balance of trade and balance of payment: basis for comparison balance of trade balance of payment Meaning Balance of trade is a statement that capature the country export and import of goods with the remaining world Balance of Payment is a statement that keep track of all economic transaction done by the … Read more
Ans: Heavy Industries: Heavy industry is an industry that involves one or more characteristics such as numerous or heavy products, large and heavy equipment, huge buildings and large-scale infrastructure, complex or numerous processes. Due to these factors heavy industry consumes energy on large scale and depends more on machines than on human labour. Following are … Read more