Describe a key difference between urban and rural economies.(1 point) Responses Rural areas tend to have higher GDP per capita. Rural areas tend to have higher GDP per capita. Rural areas receive more attention from government officials than urban areas. Rural areas receive more attention from government officials than urban areas. Urban areas tend to have greater population density. Urban areas tend to have greater population density. Rural areas have more diversified economies than urban areas.
1 answer
A key difference between urban and rural economies is that rural areas have more diversified economies than urban areas. In rural areas, economic activities are spread across various sectors such as agriculture, manufacturing, services, and natural resource extraction. This diversification helps to mitigate the risks associated with overreliance on a single industry or sector. On the other hand, urban areas often have a higher concentration of economic activities in specific sectors such as finance, technology, or entertainment. While this specialization can lead to higher productivity and innovation, it also makes urban economies more susceptible to downturns in those particular sectors.