What is the main reason for Venezuela's economic struggles despite its vast oil reserves?
Why Venezuela Is So Poor Despite Having So Much Oil

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Geography, Science, Business, Social Studies, Engineering
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10th Grade - University
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Hard
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Lack of natural resources
Over-reliance on oil
High levels of tourism
Strong agricultural sector
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which indigenous civilization was mentioned as being present in Venezuela before European colonization?
Inca
Aztec
Tomodo Quika
Maya
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who was a key figure in Venezuela's fight for independence?
Simon Bolivar
Juan Guaido
Hugo Chavez
Nicolas Maduro
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What major resource discovery shaped Venezuela's modern economy?
Natural Gas
Diamonds
Oil
Gold
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What economic effect describes Venezuela's over-reliance on oil?
Stagflation
Recession
Inflation
Dutch Disease
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was one of the consequences of Hugo Chavez's economic policies?
Diversified economy
Increased foreign investment
Deepened dependence on oil
Reduced social welfare
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percentage of Venezuela's export revenue is still accounted for by oil?
95%
75%
50%
100%
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