What aspect of the United States' diversified economy is harder for smaller countries like Cuba or Brazil to match?
A. Low-cost labor
B. Banking options
C. Immigration limits
D. Natural resources
I'm pretty sure it might be D.
I agree with D, but I'd hardly consider Brazil a smaller country. Its area is bigger than the continental USA, and it has vast natural resources. Granted, a lot of them are in the jungle, and that makes them harder to extract.
D. Natural resources.
Yes, you are correct. The aspect of the United States' diversified economy that is harder for smaller countries like Cuba or Brazil to match is D. Natural resources. The United States has a wide range of abundant natural resources, including oil, natural gas, coal, metals, and agricultural products. These resources contribute to the country's economic growth and provide a competitive advantage in various industries. Smaller countries like Cuba or Brazil may have limitations in terms of the availability or abundance of natural resources, which can impact their economic development and competitiveness.
You're on the right track! The aspect of the United States' diversified economy that is harder for smaller countries like Cuba or Brazil to match is indeed natural resources (option D).
To understand why, we need to break down the other options as well:
A. Low-cost labor: Smaller countries often have a comparative advantage in terms of low-cost labor due to lower wages, which can attract foreign and domestic investments. While the United States does have a diverse labor force, it generally has higher labor costs compared to smaller countries.
B. Banking options: The United States has a well-developed and sophisticated banking system, with a wide range of financial institutions and services. This can provide businesses and individuals with access to capital, loans, and financial tools that may not be as readily available in smaller countries. However, it's worth noting that some smaller countries like Switzerland are internationally known for their banking services.
C. Immigration limits: While immigration limits can impact a country's overall workforce and demographics, it is not a determinant of the size and scope of its economy. It may affect the composition of the labor force, but smaller countries can implement immigration policies to attract skilled individuals or stimulate economic growth.
D. Natural resources: The United States possesses vast and diverse natural resources, including oil, natural gas, minerals, arable land, and water resources. This abundance of natural resources provides significant economic advantages, enabling the United States to meet its own needs and even export surplus resources to other countries. Smaller countries like Cuba or Brazil may not have the same level of natural resource endowment, making it more challenging to match the economic diversity and self-sufficiency of the United States.
Therefore, option D, natural resources, is the aspect of the United States' diversified economy that is harder for smaller countries to match.