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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Answer:
Biosphere
Explanation:
The spheres that are formed by remains of living things with a black hard surface are known as BIOSPHERE.
This is because the Biosphere is a combination of both living organisms (biotic) and nonliving organisms (abiotic) to form an ecosystem. It also includes the lithosphere, atmosphere, and hydrosphere.
Hence, the remains of living things are part of the biotic part, while a black hard surface is a form of abiotic part of the biosphere.
Answer:
no good very good inglish pls same answer
Explanation:
I believe the answer is: a. <span> audience members who are asked to applaud after a speaker is introduced.
Social loafing refers to the social process when an individuals start to making less effort to work when they're in a group setting compared to when they're working individually.
When audiences is asked to give applaud , most of you would notice that some of the audiences would clap slower or not clap at all because they believe the other audiences would cover for them.</span><span />
<span>Is it important for every health care worker to know the organizational structure for his/her place of employment for decision making. Roles are more defined and certain functions are overseen while knowing the organizational structure.</span>
