Globalization and International Trade — Unit test

Question 2 • EA Academy Civics 9

Which is the best example of a single-resource economy?

Answer

Saudi Arabia’s sale of oil to other countries accounts for nearly all of the country’s economy.

The United States buys billions of dollars of goods each year from the European Union.

China sells data processing machines, mobile phones, and other products to many countries.

Canada supplies most of the world’s maple syrup but this is only a small part of its economy.

Explanation

A single-resource economy depends heavily on one resource or product for its economic activity. Saudi Arabia’s oil sales account for nearly all of its economy, so oil is the main resource supporting it. China exports many kinds of products, while maple syrup makes up only a small part of Canada’s economy.

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