Geography College

many Middle Eastern countries are dependent on oil for income why is this a problem?what is a possible solution? your answer should be written in four or more complete sentences.​ PLEASE AWNSER ASAP!!

Answers

Answer 1

Answer:

Being reliant on just one thing to drive the economy is a problem because even minor changes can lead to serious problems, so a solution is to develop other business sectors on time.

Explanation:

Most of the countries in the Middle East have their economies almost exclusively reliant on just one thing, that being the oil. They do possess some of the largest oil reserves in the world, but even though everything is going great with the trade of it for now and obtaining enormous amounts of money, that can easily change.

Being reliant on just one industry that is dependent on a single natural resource is a huge risk. If there are just slight changes in the price or demand goes down the economy immediately suffers badly. With the trend of the developed countries to gradually move away from fossil fuels, the Middle Eastern countries may soon face a huge economic problem. In order to try and prevent such a scenario, they can simply start to develop other business sectors, high profile ones that bring in lots of money, such as banking and tourism, so when the time comes that the oil is not so popular anymore, they will have other sectors that will drive their economy.

Related Questions

ANSWER CORRECT FOR BRAINLIEST

Which of the following statements about the standard of living in Eastern Europe is true?
A.
The region has low life expectancy levels.
B.
Literacy rates are high across the region.
C.
Development levels are very low in all countries.
D.
Income levels are high throughout the region.

Please select the best answer from the choices provided
A
B
C
D

Answers

OK so when I did this the answer was a and I got it right

Answer:

B. Literacy rates are high across the region.

Explanation:

A standard living is a state that most individuals prefer living; it involves having a comfortable life, with basic needs. However, the living standards vary from individual to another, depending on the financial capabilities of each person, country, or even based on the continent of the resident.

States like the United Kingdom, Belgium, Germany, and many others have stable and ethical living standards because of a well-developed economy and high levels of education. This means a good percentage of people from these states are literate.

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