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One significant problem for one-commodity countries is economic vulnerability to price fluctuations. When a country relies heavily on a single export commodity, any decline in global prices can lead to severe economic instability, reduced government revenues, and increased unemployment. This reliance can also stifle diversification, making it challenging for these nations to develop other sectors and build a more resilient economy. Ultimately, such dependence can lead to a cycle of boom and bust, jeopardizing long-term growth and development.
What else can I help you with?
Why do all countries face the basic economic problem?
The basic economic problem is about scarcity and choice, which every society has to deal with.
What are the dangers of globalisation?
security (or reduced security), is one problem. The other is the issue for countries that were doing really well before globalization, they now face a future of diminishing world economic power. However the countries that had extreme poverty, will improve.
What Field of economic deals with the problem faced by low income countries?
Economic development
How does dependence on other countries for resources become a problem?
The countries we are depending on to give us resources will have a benefit to their economy. because of that the country other countries are depending on will be able to boost their economy and get more money
How did the Organization of Petroleum Exporting countries embargo contribute to stagflation problem in 1970s?
oil prices increased
Which countries have nuclear waste problems?
All countries that have nuclear reactors have nuclear waste and it is always a problem, though a manageable one.
Which countries have problem with food supply?
I believe China is the number one country that has the most problem with food supply? ♥♥♥
What is problem of Insurance in Bangladesh?
What insurance? Life or Properties! Life insurance is a problem for poor countries. When one have no food or money, will he go for insurance?
Which health problem is a serious concern in poor countries?
In all but the poorest countries chronic diseases are the most serious health problem in poor countries.
What might be one problem associated with trade deficit?
countries must borrow money to pay for their imports. -- A+
One problem that the countries of Rwanda and Burundi share is?
a lack of means for moving their goods to foreign buyers
What might be one problem associated with a trade deficit?
countries must borrow money to pay for their imports. -- A+
In which countries is dysentery a problem?
Dysentery is a major problem in many hot countries. Nations in central Africa and South America have serious problem. These in Nigeria, Uganda, and Brazil.
Is drug trafficking a problem in other countries?
It is a problem in many countries around the world. It is a way many criminals try to raise money, so it is an international problem.
How will slave labor become a problem?
Slaves hve become illegal in most countries You talkin about one imparticular?
Some countries tried to fix the ozone hole problem in Antarctica?
There certainly have been some countries that have tried to fix the ozone hole problem in Antarctica. Most of these countries were unsuccessful.
Should rich countries do anything about this potential problem?
Ahhh . . . exactly what potential problem?
