Countries That Have Been Moving Toward More Open Trade and Free

question 46

Multiple Choice

Countries that have been moving toward more open trade and free market policies are known as _____.

• A) African countries
• B) open-door economies
• C) industralized countries
• D) globalized economies
• E) emerging market economies

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Definitions:

Reforms

Changes made to improve a system, law, institution, or practice that are often enacted in response to instances of inefficiency or injustice.

Economic Model

A theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them.

Simplified

Made easier to understand or do; reduced in complexity.

Reality

The state of things as they actually exist, as opposed to how they may appear or may be thought to be.