How did economic reforms in Turkey in the late 1900s improve the Turkish economy?
(1 point)
Responses
Turkey made it easier for people to start new businesses and form private companies.
Turkey made it easier for people to start new businesses and form private companies.
Turkey invested in government projects, putting money into the economy.
Turkey invested in government projects, putting money into the economy.
Turkey joined the European Union, expanding trade markets and bringing businesses in from Europe.
Turkey joined the European Union, expanding trade markets and bringing businesses in from Europe.
Turkey expanded oil production, bringing more money into the industrial sector.
All of the given responses are correct. They all highlight key ways in which economic reforms in Turkey in the late 1900s improved the Turkish economy.
1) Making it easier for people to start new businesses and form private companies encouraged entrepreneurship and increased competition, leading to innovation, job creation, and economic growth.
2) Investing in government projects injected money into the economy, stimulating various industries and sectors. Large infrastructure projects, such as the construction of roads, bridges, and airports, created employment opportunities and boosted economic activity.
3) Joining the European Union expanded trade markets for Turkey. This allowed Turkish businesses to access larger consumer bases, export their products to European markets, and attract foreign direct investment. The increased trade and investment contributed to economic growth and development.
4) Expanding oil production increased the supply of oil and generated additional revenue for the industrial sector. This helped to reduce Turkey's dependence on oil imports and supported its energy needs, boosting the country's self-sufficiency and economic stability.
Overall, these economic reforms helped to modernize and diversify the Turkish economy, promote economic development, attract foreign investment, increase trade, and create jobs and opportunities for the Turkish people.
can u just choose one
Sure! If I were to choose just one response, I would say that the economic reforms in Turkey in the late 1900s improved the Turkish economy by joining the European Union. This step expanded trade markets and brought businesses in from Europe, enabling Turkish businesses to access larger consumer bases and export their products more easily. It also allowed for increased foreign direct investment and overall economic growth.
The correct answer is:
Turkey made it easier for people to start new businesses and form private companies.
Explanation:
Economic reforms in Turkey in the late 1900s played a significant role in improving the Turkish economy. One of the key reforms was making it easier for people to start new businesses and form private companies. This change created a more business-friendly environment, encouraging entrepreneurship and attracting both domestic and foreign investments. By promoting private sector growth, the reforms led to increased economic activity, job creation, and a boost in overall productivity. As a result, the Turkish economy experienced significant growth and development during this period.