What Process Undid Many of the Gains Made in the Provision

question 77

Multiple Choice

What process undid many of the gains made in the provision of social policy following decolonization?

• A) The creation of the IMF and World Bank
• B) Structural adjustment
• C) The increasing role of NGOs in the global south
• D) Infrastructure loans
• E) Population growth

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Definitions:

Profit

The financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Economic Profits

Profits exceeding the total cost of capital, including both the cost of debt and the opportunity cost of equity capital.

Explicit Costs

Expenses directly incurred in the course of running a business, such as wages and materials.

Economic Costs

The total value of all resources used in the production of a good or service, including both explicit and implicit costs.