Question

Is iraq's economy more diverse or less diverse than the economy of the United States? Explain your answer.​

Answer 1

The economy of the United States is extremely diverse due to the land, labor, and capital available. The economy of Iraq is much less diverse. The size is much smaller, and the size of arable land is almost minimal. Labor-wise, the country is devastated from war over the past few years, so the supply of labor is less. Capital wise, the country is only developing, and the main source of economy is oil.