Animals can offer people welcome friendship
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!!!
Answer:
1 more money being brought in through ticket sales,concessions,and team store
2. more population in states rhat have really good teams
3 idk what else besides money and population increase tourism
The answer is D.<span>Egypt</span>
Explanation:
The empirical statute told Australians that their Constitutions are supreme law of the new Commonwealth. Australia agreed that empirical parliament would legislate for Australians. Legally binding and fundamental character of the Constitution is found of preamble of the Constitution Act. Section 109 of the Constitution, under which State law which are inconsistent with valid common law are effectively rendered inoperative for duration of the inconsistent but able to take affect if the Commonwealth statute is repealed or amended to remove the inconsistency.
