Developing countries need to trade with developed countries because:
A)developing countries need to adopt the advanced ways of living of the developed countries.
B)developing countries need the primary products that the developed countries export.
C)developing countries lack unskilled labor which they get from developed countries.
D)developing countries need technology and capital to increase productivity on farms,in factories,office,and in homes.
E)developing countries export capital to developed countries and increase their foreign exchange reserve.

Question

Quizplus · Accepted Answer

Developing countries need technology and capital to increase productivity in various sectors such as agriculture, manufacturing, and services. Developed countries have advanced technologies and financial resources that can help developing countries improve their productivity and competitiveness. This can lead to job creation, economic growth, and improvement in the standard of living in developing countries. Option A is not necessarily true as developing countries may have their own unique ways of living, and it is not necessary to adopt the ways of developed countries. Option B is also not true as many developing countries have primary products that they can export. Option C is not true as developing countries may have their own unskilled labor force, and it is not necessary to rely on labor from developed countries. Option E is not true as developing countries do not usually have surplus capital to export to developed countries, and they need foreign exchange reserves to finance their imports and debt repayments.

Developing Countries Need to Trade with Developed Countries Because