The Strategy Many LDCs Followed in Trying to Build Up

question 3

Multiple Choice

The strategy many LDCs followed in trying to build up their own industries is called __________.

• A) import substitution
• B) structural adjustment
• C) dependency
• D) socialism
• E) democratic evolution

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Definitions:

External Reporting

The process of preparing and disclosing financial statements and other reports to entities outside of the corporation, such as investors and regulatory bodies.

Variable Cost

Costs that change in proportion to the level of production or business activity.

Unit Basis

A method of measurement or allocation in which operations or costs are expressed per single unit of production or activity.

Traditional Format

Refers to a conventional method or structure commonly used in a specific field or context.