Answer:
Prices are often volatile due to inelastic demand. e.g if there is a ‘good harvest’, supply will increase and there will be a fall in the price of primary products. However, because demand is inelastic, this would lead to a fall in revenue.
coffee-supply-price-growers
The volatile price of coffee – can make planning difficult.
Supply can also be volatile due to weather and disease. For agricultural crops, there is always a risk of crop failure, which could cause economic hardship in one particular year.
Limited resources. One day developing economies may run out of its finite primary products, e.g. precious metals could become scarce. Without diversification, this would leave the economy with a void.
Discourages investment in other aspects of the economy. Concentrating on primary products does not always help the long-term development of an economy because it can contribute towards a lack of investment in other aspects such as education and industrial production. Comparative advantage can change over time. It’s important to not just look at the present comparative advantage, but prospects for next 10 or 20 years.
There is a low-income elasticity of demand for primary products. With a rise in global income, there is a proportionately smaller percentage rise in demand for primary products. (agricultural products tend to be income inelastic). Therefore, if you produce primary products, you may see lower rates of economic growth than countries who produce manufacturing goods – which are more income elastic. The Prebisch-Singer hypothesis suggests that countries who concentrate on primary products are vulnerable to a declining terms of trade.
There are 5 points
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The body of knowledge obtained using methods based upon systematic observation is called <u>c. science</u>.
Knowledge is defined as what's discovered, understood or aware of. An example of understanding is learning the alphabet. An instance of knowledge is having the ability to find a vicinity. An instance of information is remembering details about an event.
Information sharpens our abilties like reasoning and problem-solving. A robust base of expertise helps brains feature greater smoothly and correctly. We end up smarter with the electricity of understanding and remedy troubles extra without problems.
Knowledge does lots greater than just help students hone their thinking abilties: It truly makes learning less complicated. understanding isn't always simplest cumulative, it grows exponentially. people with a rich base of actual knowledge discover it easier to examine more — the rich get richer.
Learn more about knowledge here brainly.com/question/24703657
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Patrick Henery who claims the famous statement “I know not what course others may take, but as for me, give me liberty or give me death!”
Answer:
Evolutionary
Explanation:
Since the early days, human has managed to learn and adjust to his environment, worked on developing and nurture the greatest feasible habits and mechanisms for survival. Survival was of the greatest priority, as prehistoric cavemen were living in a multitude of dangers, varying from infections to wild, starving animals, etc. As per the evolutionary psychology, our ancestors had psychological upsides, transferred these behavioral traits to subsequent generations, culminating in a generation that then had these adaptive behaviors phobias.
Answer:
Taylor: scientific organization of work
Fayol: Management and administration within a company
Mayo: Human relationships
Explanation:
Taylor was an American engineer who developed the concept of scientific organization of work, in which the greatest benefit is to obtain both, the benefit of the employer and the employee. Thanks to this concept Taylor was known as the father of engineering efficiency, since his main objective was to avoid any loss of time or money in the industry.
Fayol was known as the father of the modern administration thanks to his great contributions within the managerial field. This engineer was the first to propose that the bases of a company's problems were not simply based on the operational part but could have its main roots from the managerial and administrative part within the organization.
Mayo was an Australian researcher who developed his work primarily in the United States at Harvard University. His interests were mainly focused in human relations within organizations rather than in the operative part for obtaining good results in the production of a company.
