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Which best describes the majority of country of countries in OPEC?
Their economies rely heavily on exports.
Why is industry more important in developed countries than in developing countries?
Industry is often more important in developed countries because these economies have advanced infrastructure, technology, and skilled labor, enabling higher productivity and innovation. Industrial sectors in developed nations contribute significantly to GDP, create high-value jobs, and drive exports. Conversely, developing countries may rely more on agriculture and raw materials, facing challenges like limited access to technology and capital, which can hinder industrial growth. Thus, while industry is crucial for both, its impact and role are typically more pronounced in developed economies.
Why do LEDCs have a trade deficit?
Less Economically Developed Countries (LEDCs) often have a trade deficit because their economies rely heavily on importing manufactured goods and technology, which they cannot produce domestically due to limited industrial capacity. Additionally, many LEDCs primarily export raw materials or agricultural products, which typically have lower value compared to the manufactured goods they import. This imbalance in trade can be exacerbated by factors such as lower productivity, inadequate infrastructure, and reliance on foreign investment. As a result, the value of imports often exceeds that of exports, leading to a trade deficit.
The economies of Caribbean nations rely most on agriculture and?
sugar cane and tourism
What nations are those who do not have the resources to carry on productive trade agreements?
Nations lacking the resources to engage in productive trade agreements often include those facing extreme poverty, political instability, or conflict, such as some sub-Saharan African countries, war-torn nations like Syria or Afghanistan, and smaller island nations with limited economic diversification. These countries often struggle with inadequate infrastructure, limited access to markets, and insufficient capital for investment. Additionally, their economies may rely heavily on a narrow range of exports, limiting their ability to negotiate favorable trade terms. Consequently, these factors hinder their participation in global trade networks.
What best describes the majority of countries in OPEC?
They are not extensively industrialized. Their economies rely heavily on exports.
What best decscribes the majority of countries in OPEC?
Their economies rely heavily on exports.
Which best describes the majority of country of countries in OPEC?
Their economies rely heavily on exports.
Which best describes the majority of countries in opec?
They are not extensively industrialized
What do African nations rely heavily on for developing their economies?
They rely on Natural Resourses
What two economies are widespread in the Middle East?
The two most widespread economies in the Middle East are oil-based economies and service-based economies. Oil-producing countries heavily rely on revenues from oil exports, while service-based economies focus on sectors like tourism, finance, and real estate. Both types of economies play a significant role in the overall economic landscape of the region.
What countries have not industrialized?
Some countries that have not fully industrialized include many in Africa, parts of Asia, and some Pacific island nations. These countries may still rely heavily on agriculture, fishing, and other primary industries for their economies.
Which country are most dependent on oil?
Saudi Arabia.
What do non industrialized countries rely heavily on energy for?
Biomass
Countries with little industry are called?
Countries with little industry are often referred to as "developing countries" or "less industrialized countries." These nations typically have economies that rely more heavily on agriculture or natural resource extraction rather than manufacturing or technology-based industries.
Why should Americans care about economic situation outside of your country?
Because the United States economy is tied with economies from all around the world and it's been like that for many, many years. The United States relies on imports from other countries; if other countries produce less, we get less, and our prices go up. We also rely heavily on other countries for our exports; if other countries buy less, we sell less, and make less money to invest in imports.
Do all European countries rely heavily on nuclear energy?
Please tell me
