​In Spite of Having No Natural Resources, a Country Like

question 40

Multiple Choice

​In spite of having no natural resources, a country like _____ was able to make itself one of the wealthiest countries in the world because it allowed private ownership.

• A)​India
• B)​Poland
• C)​Hungary
• D)​Hong Kong
• E)​China

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Definitions:

Residual Value

The estimated value that an asset will have at the end of its useful life, often considered for depreciation calculations.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life to represent the loss of value over time.