The Common Traits Shared by the Newly Industrializing Economies of the Pacific

question 78

Multiple Choice

The common traits shared by the newly industrializing economies of the Pacific Rim that have experienced rapid economic growth include

• A) export-oriented strategies and subsidized private production of most goods and services.
• B) agriculture-oriented growth strategies and government production of most goods and services.
• C) export-oriented growth strategies and limited the role of governments mainly to infrastructure and institutional development and enforcement of laws.
• D) emphasis on the quantity of output rather than the quality and a large public sector.

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Definitions:

Kenneth Boulding

An economist, educator, peace activist, and interdisciplinary philosopher who made contributions in systems theory, ecological economics, and conflict and peace studies.

Equivocality

The existence of multiple and potentially conflicting interpretations or meanings within a communication context.

Predictable Context

An environment or situation in which outcomes can be anticipated based on known variables, past experiences, and established patterns.

Suprasystem

A larger system that encompasses one or more sub-systems, highlighting the hierarchical and relational aspects of complex systems.