A country in South America has large reserves of copper and tin. Mining forms the pillar of its economy. A major part of its revenue is generated from exporting these resources. This country is poor in many other ways. It is a good market for large equipment, tools, supplies, and trucks. Since there are many foreign residents in this country and a wealthy upper class, it is also a market for luxury goods. This country most likely has a(n)________ economy.

Question

Quizplus · Accepted Answer

The country's main source of revenue comes from exporting its natural resources, indicating a raw material exporting economy. The fact that it is poor in many other ways suggests that the economy is not yet fully developed, ruling out options C, D, and E. The existence of a wealthy upper class and foreign residents suggests that there is some level of demand for luxury goods, but this is not the main driving force behind the economy, ruling out option A.

A Country in South America Has Large Reserves of Copper