Which of the following is not a major problem facing developing nations? Primary
ID: 1206129 • Letter: W
Question
Which of the following is not a major problem facing developing nations?
Primary products tend to have highly inelastic supply and demand which creates unstable and volatile prices
A lack of economic diversification
A lack of access to the exports from developed nations
None of the above
Primary products tend to have highly inelastic supply and demand which creates unstable and volatile prices
A lack of economic diversification
A lack of access to the exports from developed nations
None of the above
Explanation / Answer
a) part is the answer
The major problem faced by developing nations is related to primary sector because they produce and export primary sector goods and primary sector goods have inelastic supply which creates instability and unstable prices and profits
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