Was important bc it was an American initiative to aid Western Europe, which the United States gave over 12$ billion in economic support to help rebuild Western Europe after the end of World War 2
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
Hope it helps!!!
pls mark as brainlist
Explanation:
the process by which green plants and some other organisms use sunlight to synthesize nutrients from carbon dioxide and water. Photosynthesis in plants generally involves the green pigment chlorophyll and generates oxygen as a by-product.
A continuous schedule of reinforcement is used when a person is learning a new behavior.
<h3>What is
reinforcement?</h3>
In behavioral psychology, reinforcement can be perceived as the consequence that is been utilized to strengthen an organism's future behavior in a case where behavior is preceded by a specific antecedent stimulus.
It should be noted that continuous schedule of reinforcement is used when a person is learning a new behavior since the strengthening effect may be measured as a higher frequency of behavior.
Find out more on reinforcement at brainly.com/question/8517742
#SPJ1
A. - this is not true, it's different for different people
B. - this is true!
C. - this might be true for some people, but not for all
D. - absolutely not true!
