Answer:
apan is a major economic power in the world.
Until recently the Japanese economy was growing very quickly. Much of this growth was the result of increases in worker productivity. This higher productivity was due mainly to: increased capital (machines, etc.) per worker, advance in technology, a highly educated and skilled labor force, supportive government policies and a good world trade environment. However, Japan's miracle economy of the 1960s and 1970s may be a thing of the past as the nation copes with problems of lower growth.
Economic growth has raised the standard of living of the Japanese people to that of the United States and higher. Income is more evenly distributed in Japan than in the United States.
Like the United States, Japan's economy has moved from manufacturing towards services. Its companies have successfully used the countries of Southeast Asia as pools of low cost labor. The change to a more service economy also shows changing tastes of Japanese consumers.
Japan is densely populated--it is the eighth most populated nation in the world.
The amount of land in Japan suitable for agriculture is insufficient to produce enough food for Japan's large population. As a result, Japan imports most of its food from other countries.
Japan lacks many raw materials needed for industry and energy, such as oil, coal, iron ore, copper, aluminum and wood. Japan must import most of these goods.
In order to pay for these imports, Japan must export a variety of manufactured goods to other countries. Major Japanese exports include electronic equipment and cars.
Trade with other countries (international trade) is therefore very important to Japan.
Explanation:
