Toward the beginning of American colonization, both American and Britain profited from each other, be that as it may, expanded monetary strains and new government suggestions prompted American want for autonomy. In pilgrim America, the gap amongst creolization and anglicization belief systems was exacerbated as British collected harsh acts and expenses on the provinces.
Hamilton supported the Federal Government, in fact, not only did he settle down the financial chaos inherited from the Revolution but he created the first Bank of The United States. Of course his actions provoked opposition, by Thomas Jefferson and James Madison themselves.
Answer:
D. A long work of commentary based on biblical principles.
Explanation:
The Talmud is a book of theological as well as philosophical ideals of the Jewish people, containing codes of law for them. This book forms the central text of the Judaism faith and is the primary source of the religious law of the Jewish believers.
Consisting of two parts- the Mishnah and the Gemara, it forms the whole book of the Hebrew Bible. It includes commentaries and laws, beliefs and teachings of the rabbis/ teachers, which are primarily based on the principals of the Christian Bible.
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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