According to the Singer-Prebisch Theory Developing Countries Trying to Industrialize

question 23

Multiple Choice

According to the Singer-Prebisch theory developing countries trying to industrialize would find it much easier by participating in a GATT-based trade system

• A) because they would have better access to critical resources.
• B) because they would have better terms of trade.
• C) because they would have less access to critical resources.
• D) because they could take advantage of infant industry protections.
• E) because their consumers would have lower prices through comparative advantage benefits.

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Definitions:

Motivated

Having a strong desire or willingness to act or accomplish something; driven by certain motives or incentives.

Legally Nonexistent Principal

A legal concept referring to a supposed entity or person in a transaction who, in fact, does not have legal existence.

Agent

An individual or entity authorized to act on behalf of another, known as the principal, in business transactions or other matters.

Liable

Being legally responsible for something, especially in terms of owing compensation or facing legal penalties for wrongful actions.