Economics
Many island countries rely heavily on imports and are greatly affected by changes in the global economy. The economies of island countries are usually smaller and more vulnerable to shipping costs, environmental damage to infrastructure, and isolation from other economies than those of larger, continental countries, exceptions include Japan, Australia and the U.K. The dominant industry for many island countries is tourism.
Read more about this topic: Island Countries
Famous quotes containing the word economics:
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)
“I am not prepared to accept the economics of a housewife.”
—Jacques Chirac (b. 1932)
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (1876–1947)