Why Is Zambia an Example of Failed Potential for Economic

question 68

Multiple Choice

Why is Zambia an example of failed potential for economic development?

• A)Although Zambia experienced substantial economic development after independence,its economic growth did not keep pace with that of countries like South Korea.
• B)Although Zambia had substantial natural resources and a respected national leader,its economy worsened instead of improved after independence.
• C)Although Zambia's economy grew steadily,much higher economic growth was expected because of the country's substantial natural resources.
• D)Zambia's economy worsened after independence because of severe ethnic conflict.

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Definitions:

LIFO

Last In, First Out (LIFO) is an inventory valuation method which assumes that the most recently produced items are the first to be sold.

Units

In accounting and finance, refers to a measure of quantity or volume of production or inventory.

Specific Identification

An inventory costing method in which costs are assigned to individual items or batches of items, not to inventory as a whole.

Cost of Goods Sold

This refers to the aggregate expense involved in creating a product that a company sells, including direct labor, material costs, and direct factory overhead.