Instructions: Please Define the Following Key Terms

question 23

Short Answer

Instructions: Please define the following key terms.Show Who? What? Where? When? Why Important?
-cosmopolitanism

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Definitions:

Industrial Policy

Government-driven programs and policies aimed at improving the competitiveness and capabilities of domestic industries and sectors.

Subsidies

Financial assistance provided by the government to individuals or businesses to support economic activities deemed beneficial for the public.

Socially Optimal

A state in which resources are allocated in the most efficient way from a societal perspective, maximizing overall welfare or social utility.

Output Quantity

The amount of goods or services produced by a company or sector during a specific period.