5 Questions
Which term is used to describe an industry that is interdependent on another industry?
Linkage industry
What are other names for linkage industries?
Spin-off industries
How do screwdriver industries contribute to employment?
They allow more unemployed people to find jobs
Why is reduced importation of products important for developing countries?
It saves on imports
What advantage do Caricom member-countries have in importing products from linkage industries?
Reduced or preferential tariffs
Study Notes
Industry Interdependence
- Linkage industry: an industry that is interdependent on another industry
- Other names for linkage industries include backward linkage and forward linkage
Screwdriver Industry and Employment
- Screwdriver industries contribute to employment by creating jobs in manufacturing and assembly
Importance of Reduced Importation for Developing Countries
- Reduced importation of products is important for developing countries as it allows them to conserve foreign exchange and reduce dependence on foreign countries
Caricom Member-Countries Advantage
- Caricom member-countries have an advantage in importing products from linkage industries as they are exempt from tariffs and other trade restrictions, making it cheaper and more convenient to import these products
Test your knowledge on linkage industries and their role in interdependent economies. Learn about the concept of linkage industries, their connection with other industries, and the impact they have on unemployment rates. Discover how these industries contribute to the overall economic growth and stability.
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