Manufactured Goods

Question 1

Why do developing countries sell their raw materials rather than manufacture these resources?

Answer 1

developing countries do not have technology to turn raw materials into manufactured goods.

Question 2

How are developed countries different, in this respect to developing countries?

Answer 2

as most of their economy is based on manufacturing the raw material into finished goods.

Question 3

Why do rich countries get richer and the poor countries never really get a chance to become fully developed?

Answer 3

Manufactured goods makes more money than the raw materials from developing countries.

Question 4

Mention 3 advantages for manufacturing goods versus just supplying raw materials?

Answer 4

adds value to the product when manufactured from a raw material.
Creates more jobs
manufactured goods do not fluctuate in price due to high demand.