The Two Major Classifications of Stages of Economic Development Are

question 188

Multiple Choice

The two major classifications of stages of economic development are:

• A)capitalistic and communist.
• B)developed and underdeveloped.
• C)developed and developing.
• D)capitalistic and developing.

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Definitions:

Opportunity Costs

Eliminating possible positive outcomes from alternative selections by choosing one.

Worse Off

A situation or condition in which an individual or group is disadvantaged or in a less favorable position than before.

Opportunity Cost

The value of the next best alternative that one gives up when making a decision.

Computers

Electronic devices that process, store, and communicate information through logical operations.