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!!!
It exists because the older generation don’t like the educate their children but instead like to pass on their negative and false views.
<span>The libertarian party is an example of a party that is centered on
"ideology'.
</span>
<span>It is the only
political association which regards you as a one of a kind and capable
individual. The slogan is that we are "The Party of Principle", since
we stand solidly on our standards. Libertarians unequivocally contradict any
administration impedance into their own, family, and business choices.</span>
Answer:
the usa
Explanation:
usa has 28,570,534
i couldnt find cubas but their main age is 42 years old so it wouldnt be them
it isnt haiti because haiti has an 11 million population and most of them are 22 years old
and most of mexicos population is over 15+
hope this helps!
~goldfishareswag/brianna
