Mono production economies are those that____

Assessment: JAMB UTME - Economics - 2021 Subject: Economics

Question 1 Report

Mono production economies are those that____
Answer Details
Mono production economies are those that produce one main commodity, often to the exclusion of other types of economic activity. This can lead to a heavy dependence on a single product, making the economy vulnerable to fluctuations in demand and prices for that commodity. Examples of mono production economies include countries that heavily rely on oil or other natural resources as their primary source of income.
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