Why might a country choose to diversify its economy

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Alfredo Yang

2 January, 01:14

Why might a country choose to diversify its economy

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Easton Robbins · Answer 1

economic development

Explanation: Economic diversification is a key element of economic development in which a country moves to a more diverse pro - duction and trade structure. A lack of economic diversification is often associated with increased vulnerability to external shocks that can undermine prospects for longer-term economic growth.