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A mono economy refers to an economy heavily dependent on a single industry or sector. The effects of a mono economy include vulnerability to fluctuations in that industry, lack of diversification leading to economic instability, and limited opportunities for growth and development in other sectors. Additionally, a mono economy can hinder innovation and resilience in the face of external shocks.
What else can I help you with?
What is the difference between mono product economy and import oriented economy?
Describe Nigeria's economy as Mono-product and import oriented economy
What is a mono economy?
a mono-economy is a economy relying on one major export or natural resource to bring most of the currency into the country.
How does bushfires effect economy?
the economy looses millions of dollars paying for repairs
What would the national economic development authority director do to solve the unfavorable balance of payments?
There exists nothing to do at least for now in that Nigerias' economy is a mono culture economy,which is the bedrock of all corrupt practices.
What effect does new technology usually have on an economy?
It makes the economy stronger and more efficient.
What is the difference between mono product economy and import oriented economy?
Describe Nigeria's economy as Mono-product and import oriented economy
What is a mono economy?
a mono-economy is a economy relying on one major export or natural resource to bring most of the currency into the country.
What is mono cultural economy?
An economy that depends primarily on one product.
Does Nigeria practice mono economy?
yes
What is mono economy?
It refers to an economy, a national economy, which relies almost exclusively on the production and export of a single product
What are the advantages of mono economy?
A mono economy, where a single sector or resource dominates the economic landscape, can lead to several advantages. It allows for specialization, which can enhance productivity and efficiency in that sector. Additionally, a mono economy can simplify investment and resource allocation, as efforts are concentrated on a specific area, potentially leading to significant advancements and innovations. However, this structure also carries risks, such as vulnerability to market fluctuations and reduced economic diversity.
What effect does Technical College in Georgia has on the economy?
I wanted to know what effect does Technical Colleges have on the economy
How does carbon manoxide destroy the earth's ozone?
Carbon mono oxide causes greenhouse effect. Greenhouse effect then causes ozone depletion.
What effect did the Holocaust have on the economy?
it damaged it.
What is the meaning of snob effect in economy?
snob effect meaning status
What effect did Abraham have on society?
Added grains of sand to ALLAH the beaches as The Father of Mono-Theism, @ least.
How does bushfires effect economy?
the economy looses millions of dollars paying for repairs
