ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC GROWTH

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What was the main source of making money for the people of Gulf between 19th and 20th century?
A
Pearl diving and hunting
B
Pearl diving and fishing
C
oil and natural gas
D
Fishing and petrolium
Explanation: 

Detailed explanation-1: -They would spend the money to maintain their boats and buy supplies for the crew. In exchange for the favour, they would offer them the pearls they collected.

Detailed explanation-2: -Pearl diving was the basis for the founding of cities like Dubai and Abu Dhabi. Because of the booming pearl industry, many families and pearl divers ended up moving to coastal towns like Dubai and Abu Dhabi to be closer to work, and therefore helped establish the history and foundation of the UAE’s two biggest cities.

Detailed explanation-3: -The Arabian Gulf waters provided an ideal environment for pearling because the oyster beds were shallow enough for divers to reach without the use of breathing gear.

Detailed explanation-4: -The salaries of Diver Pearls in the US range from $51, 026 to $73, 101, with a median salary of $57, 261 .

There is 1 question to complete.