Diversified means the improvement in the production of goods and services. The term diversified is used when the economy of a country produces a wide variety of goods and services.
What is diversified?
The diversification can be defined as the shift toward a so much various structure of municipal production and trade with a view to maximizing productivity, producing jobs and rendering the base for continuous poverty-reducing development.
It is, the term diversification is also used in defining the economy of a country which produces the variety of goods and services.
Example of diversified economy are:
Chile is an instance of a diversified economy, in which it involves in exporting more than 2,800 distinct products to more than 120 different countries.
Therefore, option 1 is correct.
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