Economic and historical research has overwhelmingly shown that industrialization is linked to rising education, longer life spans, growing individual and national income, and improved overall quality of life.
Q. Why growth may not benefit developing countries?
Sugar has a low income elasticity of demand, rising incomes means a smaller % increase in demand. Therefore, economic growth does not translate into higher demand for these goods. Many developing economies doesn’t have sufficient transport and infrastructure to make the most from trade.
Table of Contents
- Q. Why growth may not benefit developing countries?
- Q. Why do some countries develop and others remain poor?
- Q. Is this statement true or false coffee is the US’s second most valuable commodity import?
- Q. What is the most sold commodity?
- Q. What is the single most important commodity in the world?
- Q. What is the most important commodity?
- Q. What is the most traded item in the world?
Q. Why do some countries develop and others remain poor?
Social factors – some parts of the world have issues that are caused by people. These include low levels of education, poor water quality or a lack of doctors. Political factors – some countries are at war or the government may be corrupt. These can be sold and the money invested into developing the country.
Q. Is this statement true or false coffee is the US’s second most valuable commodity import?
Which of the following is the primary sector of employment in African countries? Coffee production is lucrative agricultural employment. False. Coffee is the U.S.’s second most valuable commodity import.
Q. What is the most sold commodity?
Most Actively Traded Commodities
- WTI Crude Oil.
- Brent Crude Oil.
- Natural Gas.
- Soybeans.
- Corn.
- Gold.
- Copper.
- Silver.
Q. What is the single most important commodity in the world?
Crude oil is undoubtedly the king of commodities, in both its production value and its importance to the global economy. Crude oil is the most-traded nonfinancial commodity in the world today, and it supplies 40 percent of the world’s total energy needs — more than any other single commodity.
Q. What is the most important commodity?
1. Crude oil: Brent crude. Crude oil is one the world’s most in-demand commodities as it can be refined into products including petrol, diesel and lubricants, along with many petrochemicals that are used to make plastics.
Q. What is the most traded item in the world?
10 of the World’s Most Traded Goods
| Rank | Good | Market Value (in billions) |
|---|---|---|
| 1 | Cars | $1350 |
| 2 | Refined Petroleum | $825 |
| 3 | Integrated Circuits | $804 |
| 4 | Vehicle Parts | $685 |
