One Result of Economic Dependency in Latin American Countries Has

question 33

Multiple Choice

One result of economic dependency in Latin American countries has been the frequent protests that have often been led by

• A) military men.
• B) industrial workers.
• C) Marxist socialists.
• D) reform leaders pushing for implementation of a corporate state a la Marx.
• E) revolutionaries eager to toss out the current government and begin a rapid return of the land to its rightful owners.

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Definitions:

Elastic

A characteristic of a demand or supply curve which shows a high responsiveness to changes in price.

Inelastic

Refers to a condition in which the demand or supply of a product or service remains largely unaffected by variations in its price.

Pure Monopolist

A market scenario where a single company or entity exclusively controls the entire supply of a particular product or service, without any close substitutes or competition.

Socially Optimal

A condition or outcome that maximizes societal welfare, considering both efficiency and equity among members of society.