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What is self-sufficiency?

What is self-sufficiency?

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Asked by Denzel, Last updated: Nov 11, 2024

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John Smith

John Smith

John Smith
John Smith

Answered Sep 09, 2016

A country disperses factories and manufacturing buildings throughout its land area, so that each area is able to develop at the same rate as all of the other areas. Therefore, every person makes the same money. Countries make sure that each area is developing at the same rate by putting taxes or setting quotas on imports.

A disadvantage is the fact that production is inefficient. The products are of low quality and sold at very high government-set prices. The factories do not make room for improvements in its product(s). The government controlled everything. Factories would have to sell the exact product the government wants to be made and sold at the price the government sets.

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