One Flaw of Dependency Theory Is That Many of Today's

question 122

True/False

One flaw of dependency theory is that many of today's poor countries were never colonies, and some former colonies have done well.

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Definitions:

Marginal Revenue

The additional income received from selling one more unit of a good or service, used to analyze and optimize profit and pricing strategies.

Economic Profits

Profits exceeding the total costs of resources used, including both explicit and implicit costs.

Opportunity Costs

The financial loss associated with overlooking the alternative that is considered second-best when making a choice.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the total quantity of output produced.