diversified economy

Meanings

• noun

  An economy with a wide range of industries and economic sectors, which makes it less dependent on any one industry for its growth and stability.

  - "The country has a diversified economy with strong sectors in manufacturing, agriculture, and services."
  - "A diversified economy is less vulnerable to economic shocks caused by fluctuations in any one industry."

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Variants

List of all variants of diversified economy that leads to same result
diversified , diversifier , diversifiers , diversifies , diversify , diversifying

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Etymology

origin and the way in which meanings have changed throughout history.

An economy is said to be diversified when it has a broad base of industries and economic sectors, reducing its dependence on any single industry or sector. This term originated in the context of economic development, where a diversified economy is considered more resilient and sustainable.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Did you know that the United States has one of the most diversified economies in the world, with strong sectors in manufacturing, agriculture, services, and technology?

2. A diversified economy is not only beneficial for a country's economic growth and stability, but it can also lead to greater social equality and a higher standard of living for its population.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Economic Development: The process of improving the economic and social conditions of a country or region. A diversified economy is often seen as a key aspect of economic development.

2. Globalization: The increasing interconnectedness of economies around the world. A diversified economy can help a country participate more effectively in the global economy.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

The concept of a diversified economy has been a topic of interest in various fields, including economics, politics, and sociology. It has been discussed in literature, such as in the works of Adam Smith and John Maynard Keynes, and in academic research on economic development and globalization.

How to Memorize "diversified economy"

1. visualize
   

   - To visualize a diversified economy, imagine an economy with a strong and balanced base of industries and economic sectors, each contributing to the overall growth and stability of the economy.

2. associate
   

   - To memorize the term 'diversified economy', associate it with the idea of a strong and balanced economy with a wide range of industries and economic sectors.

3. mnemonics
   

   - A mnemonic for 'diversified economy' could be 'Many Industries, Varied Sectors, Fortified Economy'.

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