Question

Which problem will a country that tries to create a self-sufficient economy most likely experience?

Answer 1

Answer:

It increased the opportunity for failing to specialize

Explanation:

When a country want to create a self-sufficient economy, it need to identify the different types and amount of resources that it possess. After that, they need to design their economy to focus on producing goods/services that can be accommodated by the available resources. We refer to this process as specialization.

If the country is successful in the specialization , it will produce a specific type of goods with lower cost and higher profit margin that will benefit them in international trades. The income from that sales can be used to buy other goods that can't be produced in the country.

But if they fail, that country will put itself in a position where it will waste a lot of potential source of income while having to purchase other varieties of products from different countries.