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NIC's, Top Exam Questions and answers. 100% Accurate. Verified. what does the term NIC stand for? - -newly industrialised country what are they? - -countries undergone rapid industrialisation since early 1960's what countries are considered to be NIC's? - -Mexico, Brazil, China, India, ...

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  • August 10, 2023
  • 5
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • nics
  • top exam questions and answers 100 accura

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NIC's, Top Exam Questions and
answers. 100% Accurate. Verified.

what does the term NIC stand for? - ✔✔-newly industrialised country



what are they? - ✔✔-countries undergone rapid industrialisation since early 1960's



what countries are considered to be NIC's? - ✔✔-Mexico, Brazil, China, India,



why are NIC's rapidly getting richer? - ✔✔-because economies are changing from primary industry
based (agriculture) to secondary industry based (manufacturing)



they can also develop into tertiary industries (IT services)



what was the first phase of NIC's? - ✔✔-The Asian Tigers



what were the 1st generation of Asian Tigers? - ✔✔-Hong Kong, Singapore, South Korea and Taiwan

in 1960's began to rapidly industrialise

later nicknamed *asian tiger economies*

have since become more wealthy and developed



what has been an important factor in the growth of the Asian Tigers? - ✔✔-investment from TNC's



why did the first phase of NIC's begin? - ✔✔-because TNC's looked for areas where labour where labour
and other costs were lower - East Asia countries were targeted

, Which TNC's were the first to seek new areas for operations? - ✔✔-Japanese TNC's were amongst the
first to seek new areas for their operations - they looked to less developed neighbouring countries such
as Taiwan and South Korea



The advantages of Asian Tigers (10 points) - ✔✔-- reasonably well developed level of infrastructure



- relatively weak educated population with necessary skills



- good geographical location



- government support



- less strict laws/regulations on labour, taxation and pollution: increasing profits



- cheap work force + low labour costs



- low cost and availability of raw materials/land



- reduced trade tariffs: cheaper imports/exports



- expanding domestic markets



- improved communication links



Describe/Explain the growth of the Asian Tigers - ✔✔-the first manufacturing industries had low
production costs and were very labour intensive. They produced cheap raw materials and low
technology goods.



manufacturing became more successful as TNC's invested in developing the industries - they improved
technology to make manufacturing more efficient

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