Agricultural Economics and Global Development Concepts
Classified in Geography
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Plantation and Speculative Farming
Why is plantation farming called speculative farming?
Plantation farming is known as speculative farming because these products are subject to exchange fluctuations. For example, the prices of coffee or sugar may go up or down significantly in a certain period.
Economic Indicators and Underdevelopment
Characteristics of an underdeveloped country
- A low life expectancy
- A high infant mortality rate
- A high fertility rate
- A low GDP per capita
- A low urban population
Understanding GDP and GDP per Capita
GDP stands for Gross Domestic Product, which is the total wealth of a country. GDP per capita is the total wealth of the country divided by the number of inhabitants in that country. It is typically calculated in dollars.