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Developing countries have increasingly become involved in the integrated global economy primarily due to
Least Costly Way
Refers to a method or strategy that aims to achieve a particular goal or produce a specific outcome with the minimum possible expense or use of resources.
Inferior Good
A type of good for which demand decreases as the income of consumers increases, inversely related to income elasticity.
Demand
The amount of a product or service that consumers are prepared and capable of buying at different price levels over a specific time frame.
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