What Term Did Albert O

question 25

Multiple Choice

What term did Albert O. Hirschman use to describe the need for investment in a cluster of related industries in order to achieve industrialization?

• A) Cross fertilization
• B) Interdependency
• C) Import substitution
• D) Critical mass
• E) Linkages

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Definitions:

Great Leap Forward

An economic and social campaign by the Communist Party of China (1958-1962) aimed at rapidly transforming China into a socialist society and increasing industrial and agricultural production.

Communists

Individuals or groups who support or believe in the principles of communism, which is a political and economic ideology advocating for a classless society in which all property and wealth are owned communally.

Private Property

Legal designation for the ownership of property by non-governmental legal entities or individuals, protected by law.

Economic Reforms

Refers to changes implemented to improve an economy by modifying policies, regulations, and institutions.