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What Did Development Prospects Look Like in Zambia and South

question 13

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What did development prospects look like in Zambia and South Korea in 1964? What explains the divergence in their development stories?


Definitions:

Large Firms

Companies that are considerable in size, often having extensive operations, large revenues, and many employees, playing significant roles in their industries.

Price Leadership

A strategy where the dominant firm in a market sets the price of goods or services, and other competitors in the market follow suit.

Automobiles

Motor vehicles designed for transporting passengers on roads.

Oil

A natural fossil fuel used primarily for energy production and as a raw material in manufacturing.

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