One Major Path That Leads to Growth in Both Developing

question 39

Multiple Choice

One major path that leads to growth in both developing nations (DVCs) as well industrially advanced nations (IACs) is that productive resources must be

• A) owned and managed by the public sector.
• B) distributed more equitably across business sectors.
• C) reallocated to export industries.
• D) used more efficiently.

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Definitions:

Efficiently

Performing or functioning in the best possible manner with the least waste of time and effort, ensuring productivity and effectiveness.

Total Output

The aggregate quantity of goods or services produced by an economy, sector, or firm within a given period.

Specialize

Focus on a specific area of expertise or production to achieve greater efficiency.

Production Possibilities

A curve representing all possible combinations of maximum outputs that could be produced with a fixed amount of resources.