A single-resource economy depends heavily on one natural resource for economic activity, as seen in oil-producing states like Saudi Arabia. However, the presence of natural resources does not always guarantee economic prosperity.
A single-resource economy is a country that relies heavily on one natural resource that it sells to other countries. This reliance can impact the country's economy significantly, as seen with oil-producing states like Saudi Arabia. Even though natural resources are beneficial, they are not a guarantee of economic success, as demonstrated by countries like Niger.
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