Why might a country choose to diversify its economy?
a)to increase imports
b) to discourage trade
c) to simplify production
d) to minimize risk

D) To minimize risk

Explanation:

Diversification is a business development strategy that allows a country to enter additional lines of business that are different from current products, services or markets.

Under current conditions of market dynamics and strong competition, a successful risk management tool is to avoid focusing on a single product, service and / or its distribution to a single limited market. When applied wisely, it helps to keep the country stable even during difficult times, as the economic downturn occurs simultaneously in all sectors and markets.

The diversification of business activities brings competitive advantages, allowing companies to reduce business risk. This is why they are such a great business development tool. However, a successful implementation requires in-depth knowledge and methodical assessment of the company and its environment. And while diversification is sometimes difficult for small businesses, it can be inevitable when source markets become unviable.

the answer is true!                                          

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