The economic health of developing countries
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Hello!
Parents can be a big influence on our political opinion. We as kids, whether we know it or not, are just younger version of our parents. We grow up around them, and most likely will think the same. They are probably one of the biggest influences on us. When it comes to politics, we might hear our parents say that they are Democrat, and automatically say that we're Democrats without even knowing what that is. It is always good to know why you do or say something before you do it, so you can stand out as an individual apart from your parents.
Hope this helps you out fam!
~theLocoCoco
Answer:
(A) depends heavily on a nationalized oil industry.
Explanation:
The problem with Venezuela, is that it is what economists called a rentier state. Basically, it means that the country heavily relies on the extraction of natural resources to generate revenue for its country.
With Venezuela, this natural resource is oil. Due to its overreliance on this resource, when oil price went down, the country's economy went down with it. Other countries in South America - such as Brazil and Argentina - diversify their country's source of income, creating a buffer when one sector is experiencing a crisis; which unfortunately Venezuela did not do.
