In Less Technologically Advanced Countries,direct Supervision and Highly Centralized Decision-Making

question 86

True/False

In less technologically advanced countries,direct supervision and highly centralized decision-making are the basic means of control.

---

Definitions:

Specialization

Refers to the process by which individuals, firms, or countries focus on producing a limited range of goods or services to achieve greater efficiencies.

Economic Output

The total value of all goods and services produced within an economy over a specific period.

Living Standards

A measure of the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Specific Skills

Skills that are highly specialized and pertinent to a specific job or industry, enabling a worker to perform particular tasks efficiently.