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WAEC Economics 2000 Question 43

Question 43

Economic Growth and Development

Mono-product economies are those that produce

  1. A.only intermediate products
  2. B.petroleum products
  3. C.agricultural products
  4. D.one main commodity.
Show the answer and explanation

Answer: D (one main commodity.)

Explanation

'Mono' means one: a mono-product economy depends on one main commodity for most of its income and exports.