is the wealth and development of a nation dependent on oil or agriculture?

Question

the answer provided will critically justify the above question to know which one is better a country to adopt for economic development

Answer 1

Plenty of countries have developed without a large agricultural base, so that's not it. Think of those small asian economic powerhouses like Hong Kong, Tiawan, and Singapore.

Oil would play a much bigger role, but I wouldn't specify oil in particular. I'd say energy! Energy is needed for industry to work, transportation and providing power to all users. It could still be done without oil, although more difficultly, by coal and other sources. Goods can be moved by coal powered ships and locomotives if oil were prohibitively expensive.

Answer 2

Neither. Oil can only help you along, if you have very large reserves per capita, like Gulf countries or Norway. Agriculture is commoditized, so there isn't a whole lot of money to be made in it. Both oil and agriculture are subject to price shocks.

Countries that were successful in lifting themselves out of poverty, did so mainly through large-scale export-oriented manufacturing and related services...

Answer 3

It depends.

The country's development is based on how well it can support itself and have other goods and services to be in world trade.

Any nation can become dependent on other nations for support (see Africa through no fault of its own, especially climate).

GOD bless