Please Provide explainations 17) A country in South America has large reserves o
ID: 377904 • Letter: P
Question
Please Provide explainations
17) A country in South America has large reserves of copper and tin. Mining forms the pillar of its economy. A major part of its revenue is generated from exporting these resources. This country is poor in many other ways. It is a good market for large equipment, tools, supplies, and trucks. Since there are many foreign residents in this country and a wealthy upper class, it is also a market for luxury goods. This country most likely has a(n) ________ economy.
A) subsistence
B) raw material exporting C) emerging
D) developed
E) industrial
18) Which of the following statements is true of industrial economies?
A) They export their goods to other types of economies for raw materials.
B) They have a declining middle class population.
C) They depend on agriculture as the primary revenue generator.
D) They do not trade goods amongst themselves.
E) They consume most of their output and barter the rest for simple goods and services.
Explanation / Answer
17.
B. Subsistence:
- Subsistence economies are poor economics which relies on natural resources
- This country major part of its revenue is generated from exporting these resources like copper and tin
- It is basically poor
18.
A. They export their goods to other types of economies for raw materials.
- Industrial economies includes activities that takes place inorder to produce a good or services
- Hence exporting raw materials comes under industrial economics