Industrialization And Deindustrialization Questions
Deindustrialization refers to the decline or reduction in the industrial sector of an economy, typically characterized by a decrease in manufacturing activities and the shift towards a service-based economy. It often involves the closure or relocation of factories and the loss of manufacturing jobs. Deindustrialization can be caused by various factors such as technological advancements, globalization, changes in consumer preferences, and shifts in government policies.