The Economic Liberal Model of Development

question 31

Multiple Choice

The economic liberal model of development

• A) is based on the successful experience of the Asian NICs.
• B) emphasizes the existence of international structural barriers to development.
• C) focuses on evolutionary, market-based change.
• D) promotes import-substituting growth policies.

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Definitions:

Closing the Revenue

The process of transferring the balances from revenue accounts to a permanent equity account at the end of an accounting period.

Capital Account Balance

The amount in a company or partnership's capital account, representing ownership interest in the entity.

Withdraws

Money taken out of a business by its owner(s) for personal use.

Partnership

A business structure where two or more individuals share ownership, as well as the profits or losses of the business.