Question

An economy that is based on mining or producing raw materials to be used in foreign industries is called
A. an extractive economy.
B. an export economy.
C. a feudal economy.
D. an industrial economy.

Answer 1

i know it is not (B)

Answer 2

A. :)

Answer 3

An industrial economy is based on refining natural resources and creating goods out of them.
An export economy creates goods and sells to many countries.
A feudal economy is based on harvesting and agriculture.

An extractive economy is considered the least advanced, even though it may be very wealthy. Saudi Arabia is an example of this type of economy; its nation is shadowed by crude oil. If the Princes spent money building refineries, they could sell refined oil for many times more of the price; instead they spend it on Ferraris and expensive hotels and food outside of Saudi Arabia.

An example of both industrial and export economies is China. It synthesizes or buys plastic and makes toys, tools, and all types of goods with it; then, it exports to most of the world.

An example of a feudal economy is Afghanistan or Mongolia, where most of the nation hasn't gotten past producing food for everybody.

Answer 4

thank you :)