In the Second Half of the Twentieth Century, Import Substitution

question 22

Multiple Choice

In the second half of the twentieth century, import substitution was dominant in

• A) Latin America, India, and parts of Africa.
• B) Africa.
• C) Latin America.
• D) Europe.

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Definitions:

Fixed Asset Turnover

A ratio that measures a company's ability to generate sales from its fixed-assets investments such as property, plant, and equipment.

Generating Sales

The process of creating revenue for a business through activities such as marketing, sales calls, and customer service.

Depletion Expense

The allocation of the cost of natural resources over their productive lives, recognizing the reduction in natural resource value as it is extracted and sold.

Mining Site

A specific area where minerals are extracted from the earth, which can include both underground and surface mining operations.