It isn't necessarily important to diversify.
If you want high risk and high reward then you do not want to diversify. Take a look in Forbes and see how many people got there by being diversified. The answer of course is none of them.
If you are looking for wealth preservation then you might want to diversify. Generally, the more places you wealth is stored the lower the risk of large losses.
African countries are finding that a diversified economy helps weather the highs and lows. It also helps in the case of crop failures from disease or bad weather.
poverty is always higest in countries with market economies
By not having a government based on Religion has improved their economies of North Africa and the other countries that are there.
It is important for Latin America to diversify its economy because for one thing, L.A. (Latin America) wouldn't have to take the risks of a failed business by relying on one crop or resource. Another reason is that more diversed crops or resources brings in a steady amount of money with varied products, and L.A. would be taking their chances by just relying on one crop/resource. I hope I've been helpful! ^_^
The African Nation is trying to diversify their economies because A country with a diverse economy will not be hurt as much if a major cash crop fails or if world prices for one of it's major mineral exports suddenly drops. THAT'S THE REAL ANSWER!!!!
Brazil, Bolavia, Peru, Colombia
diversify their economies
African countries are finding that a diversified economy helps weather the highs and lows. It also helps in the case of crop failures from disease or bad weather.
Rocks are very important to the economies of the countries where they are located. They are the source of many minerals and gemstones.
The most important European countries are the UK, Germany, France, Russia, and Italy. This is based on economies, population, military power, and world influence.
poverty is always higest in countries with market economies
poverty is always higest in countries with market economies
There are several countries that have a market based economies. France and England are two countries that have this type of economy.
poverty is always higest in countries with market economies
Three of the most important economies in Australia are:MiningAgricultureTourism
They where looking for new markets and raw materials to improve their economies.
the UK