hey HMH,al noor co i have a question
As countries develop they often rely less on exports of agricultural products and more on the exports from other sectors. Discuss the possible benefits of this.
Please answer
hey, im reading answers, and all you guys are writing mostly on HOW they become more developed! im gna try answering this qs
benifits:
- less primary product dependency which are price elastic, meaning that increasing the supplies would lead to a lower revenue, so depend on them less would mean country is not vulnerable to a great loss in its GDP because of the elasticity of primary products
- developing other sectors of the economy bring in income which is less vulnerable to change, because they need more qualifications and skills than the primary sector. they are more reliable
- climate conditions do not affect the secondary or primary sector, so output is less affected than through agriculture
thats all i can think of
also someone said "Now, these economy deindustrialises.. means less of secondary and primary sector because these people have more incomes to spend on luxury goods and services so the demand and supply for tertiary sector increases." i dont know who though but i dont think thats necessarily true because "luxury goods" are also in the manufacturing sector not only in the tertiary sector. for example, cars, houses, flat screen TVs
i have a question thats not from a past paper though, when they ask you "is there enough evidence" do u also argue both sides ( like there is evidence to suggest that...but also...), or do you just say, yes there is enough evidence, no there isnt... HELP!!!
