Primary Product Dependancy Flashcards
1
Q
Primary product dependency
A
When a country over depends on the production and export of a primary sector product
Eg oil
Russia 75% oil and natural gas
2
Q
Disadvantages of primary product dependency
A
Prices often volatile due to economic demand
Supply can also be volatile due to weather and disease
Limited resources
Discourages investment
Resource curse (corruption, greed)
