By the Beginning of the Twenty-First Century, the Two Eastern

question 49

True/False

By the beginning of the twenty-first century, the two Eastern European states that were most successful in making the transition to democracy and free markets were Poland and the Czech Republic.

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Definitions:

Total Output

The total quantity of goods and services produced in an economy at a given time period.

Economies Of Scale

Cost advantages reaped by companies when production becomes efficient, leading to a decrease in the per unit cost as output increases.

Trade Sector

The segment of the economy that involves the exchange of goods and services across borders.

Exports Plus Imports

The total value of all goods and services a country sells to and buys from other countries; a measure of a country's international trade.