0
A one-resource economy is a country which relies on the exportation of a single resource such as in many African colonies when they gained independence. Examples of their one-resource economies are relying on oil, corn or sugar, etc. The problems which arise from this are that the country must rely on the resources they need being available. Many countries relying on oil are expected to collapse when the oil runs out as they only have one-resource economies. One-resource economies are also more easily devastated by other countries refusing to trade with them or by natural disastors.
All i know is that if the demand for that crop goes down, the farmer loses a lot of the money he needs. Also if he has a family they could struggle to keep their houses. Hope it helped!!!!!!
Add your answer:
Earn +20 pts
What is the core economic problem?
the core economics problem with economy of pakistan
What is major problem with Africa having an export economy?
It makes the economy of Africa less stable.
What is the problem with a single product economy and what can be done to help?
sauce
What is a major problem with Africa having an export economy?
It makes the economy of Africa less stable.
What is the role of entrepreneurship in the economy of the US?
Its HUGE for ANY economy and if MORE people were one the financial problem would be no more!
What is the core economic problem?
the core economics problem with economy of pakistan
What problem is Barack most concerned about?
the economy
What issue is not a problem for the Polish economy?
agriculture
What was the problem that Russia was facing when Stalin realized that the economy needed to change?
Economy needed to change.
What is major problem with Africa having an export economy?
It makes the economy of Africa less stable.
What was the main problem with communist economy in China?
Inflation.
What is the problem with a single product economy and what can be done to help?
sauce
What is a major problem with Africa having an export economy?
It makes the economy of Africa less stable.
By 1760 what was the biggest problem with the economy of the English colonies?
A huge balance-of-trade deficit that threatened the solvency of the colonial economy
What is the role of entrepreneurship in the economy of the US?
Its HUGE for ANY economy and if MORE people were one the financial problem would be no more!
The economy in India has improved and poverty is no longer a problem.?
false
A problem for the economy of the new nation was that?
wealthy loyalists had left america.
