Choose the given statement is true/false:

Countries that transform their raw materials into a wide variety of furnished goods of a higher value are prosperous.

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True

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Detailed Solution

The above statement is true.
It is accurate to say that developed nations are those that turn their basic materials into a range of finished products with greater prices. Raw goods might get wasted sometimes or they might not be used for a good purpose, but it is the skill of that country's people to make high-value products from the raw material. Making such high-value material increases the price of the product, which indirectly increases the import and export of the country, which leads to money flow among the country. This is a good factor for the country and hence the country can be prosperous through such decisions.

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