Which of the following is a major problem facing developing nations? Primary pro

Question

Which of the following is a major problem facing developing nations?

Primary products tend to have highly elastic supply and demand which creates stable prices that do not allow for growth

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 elastic supply and demand which creates stable prices that do not allow for growth

A lack of economic diversification

A lack of access to the exports from developed nations

None of the above

Explanation / Answer

Which of the following is a major problem facing developing nations?

** A lack of economic diversification.

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