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fomenos
2 years ago
14

Five disadvantages of primary sector

Social Studies
1 answer:
Dahasolnce [82]2 years ago
6 0

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!!!

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The two overall goals of persuasion are to address attitudes and move an audience to action. True False
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Is the underlined verb in the sentence transitive or intransitive? The powerful king looked at his vast lands. A. intransitive B
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African Review Quiz
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1.The history of West Africa has been commonly divided into its prehistory, the Iron Age in Africa, the major polities flourishing, the colonial period, and finally the post-independence era, in which the current nations were formed. West Africa is west of an imagined north-south axis lying close to 10° east longitude, bordered by the Atlantic Ocean and Sahara Desert.

Colonial boundaries are reflected in the modern boundaries between contemporary West African states, cutting across ethnic and cultural lines, often dividing single ethnic groups between two or more states. During the Holocene, sedentary farming began to develop in West Africa. The Iron industry, in both smelting and forging for tools and weapons, appeared in Sub-Saharan Africa by 1200 BCE, and by 400 BCE, contact had been made with the Mediterranean civilizations, and a regular trade included exporting gold, cotton, metal, and leather in exchange for copper, horses, salt, textiles, and beads. The Nok culture (1500 BCE - 200/300 BCE) would develop.[1] and vanished under unknown circumstances around 500 AD, thus having lasted approximately 2,000 years.[2] The Serer people would construct the Senegambian stone circles (3rd century BCE - 16th century CE). The Sahelian kingdoms were a series of kingdoms or empires that were built on the Sahel, the area of grasslands south of the Sahara. They controlled the trade routes across the desert, and were also quite decentralised, with member cities having a great deal of autonomy. The Ghana Empire may have been established as early as the 7th century CE. It was succeeded by the Sosso in 1230, the Mali Empire in the 13th century CE, and later by the Songhai and Sokoto Caliphate. There were also a number of forest empires and states in this time period.

Following the collapse of the Songhai Empire, a number of smaller states arose across West Africa, including the Bambara Empire of Ségou, the lesser Bambara kingdom of Kaarta, the Fula/Malinké kingdom of Khasso (in present-day Mali's Kayes Region), and the Kénédougou Empire of Sikasso. European traders first became a force in the region in the 15th century. The transatlantic African slave trade resumed, with the Portuguese taking hundreds of captives back to their country for use as slaves; however, it would not begin on a grand scale until Christopher Columbus's voyage to the Americas and the subsequent demand for cheap colonial labour. As the demand for slaves increased, some African rulers sought to supply the demand by constant war against their neighbours, resulting in fresh captives. European, American and Haitian governments passed legislation prohibiting the Atlantic slave trade in the 19th century, though the last country to abolish the institution was Brazil in 1888.

In 1725, the cattle-herding Fulanis of Fouta Djallon launched the first major reformist jihad of the region, overthrowing the local animist, Mande-speaking elites and attempting to somewhat democratize their society. At the same time, the Europeans started to travel into the interior of Africa to trade and explore. Mungo Park (1771–1806) made the first serious expedition into the region's interior, tracing the Niger River as far as Timbuktu. French armies followed not long after. In the Scramble for Africa in the 1880s the Europeans started to colonise the inland of West Africa, they had previously mostly controlled trading ports along the coasts and rivers. Following World War II, campaigns for independence sprung up across West Africa, most notably in Ghana under the Pan-Africanist Kwame Nkrumah (1909–1972). After a decade of protests, riots and clashes, French West Africa voted for autonomy in a 1958 referendum, dividing into the states of today; most of the British colonies gained autonomy the following decade. Since independence, West Africa has suffered from the same problems as much of the African continent, particularly dictatorships, political corruption and military coups; it has also seen bloody civil wars. The development of oil and mineral wealth has seen the steady modernization of some countries since the early 2000s, though inequality persists.

2. Governments of Ghana since independence

Party Leader Title

Nkrumah government (Convention People's Party) Dr. Kwame Nkrumah Prime Minister

First Republic

Nkrumah government (Convention People's Party) Dr. Kwame Nkrumah President

24 February 1966 coup d'état

Explanation:

3 0
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