One of the Major Events That Has Accounted for the Vigorous

question 49

True/False

One of the major events that has accounted for the vigorous economic growth of ASEAN countries is the decision by trade group members to shift their economies from commodity-based to manufacturing-based.

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Definitions:

Industrial Policy

Government measures aimed at improving the competitive stance and capabilities of domestic industries.

Extensive Experiments

A thorough or wide-ranging series of tests or investigations conducted to explore a hypothesis or understand a phenomenon better.

Social Regulation

Policies designed to protect Public welfare, including health, safety, and the environment.

Price-Fixing

An illegal agreement among competitors to fix prices, set output levels, or divide markets, aimed at increasing profits by reducing competition.