_______ Refers to the Need for Developing Economies to Maintain

question 6

Multiple Choice

_______ refers to the need for developing economies to maintain a focus on the core elements of an open economy -those being the law of supply and demand,encouragement of entrepreneurship and wealth creation,and the willingness to encourage and support private ownership.

• A) Commitment to an International Trade System
• B) Absence of Protectionism
• C) Fundamentals of Fair Trade
• D) Market Openness
• E) Balanced Economic Development

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Definitions:

Urban Residents

Individuals who live within the confines of a city or densely populated area.

Urban Areas

Areas known for their significant concentration of people and extensive anthropogenic characteristics relative to nearby regions.

Urban Sprawl

The unchecked spread of city regions into adjacent rural lands, frequently identified by sparse residential growth.

Tax Base

The aggregated economic value that is subject to taxation by a governing authority, which helps fund public expenditures.