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 Country
Famous quotes containing the word economics:
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)
“Women’s battle for financial equality has barely been joined, much less won. Society still traditionally assigns to woman the role of money-handler rather than money-maker, and our assigned specialty is far more likely to be home economics than financial economics.”
—Paula Nelson (b. 1945)
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (1876–1947)