If an NIC (Newly Industrializing Country) Had the Characteristic of Increasing

question 44

Multiple Choice

If an NIC (newly industrializing country) had the characteristic of increasing the production for the domestic market and export markets with increases in efficiencies and continual differentiation of exports from competition as its focus, the country would be using which of the following factors as a component for growth?

• A) Economic and legal reforms
• B) Privatization
• C) An outward orientation
• D) Entrepreneurship
• E) Factors of production

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Definitions:

Nominal Group Techniques

A structured method for group brainstorming that encourages contributions from everyone in the group and is used to generate and prioritize ideas or solutions.

Linear Relationship

A direct correlation between two variables where a change in one variable is consistently associated with a proportionate change in the other.

Ratio Analysis

A financial analysis technique that uses ratios derived from a firm's financial statements to evaluate its financial condition and performance.

Qualitative Demand Forecasting

The process of predicting future demand for a product or service based on non-quantitative information such as expert opinions and market trends.