NABTEB Economics 2024 Objective — Question 50
Question 50 of 50 from the National Business and Technical Examinations Board (NABTEB) Economics 2024 Objective paper, with the correct answer and a full explanation.
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Exploitation of solid minerals in developing countries can stabilize their revenue base mainly because it helps in
- A. A. promoting a mono-economy
- B. B. the transfer of technology
- C. C. the diversification of the economyCorrect
- D. D. the provision of energy
Explanation
Diversification of the economy is also known as Balanced Growth Strategy. It is the best strategy of industrialization. It involve the development of all or almost all the sectors of the economy. Solid minerals are needed by many sectors of economy for their various activities.
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