What Do the BRIC Countries Have in Common

question 43

Multiple Choice

What do the BRIC countries have in common?

• A) They participate together in a trading bloc.
• B) They have suffered more than most other countries in the recent recession.
• C) They are Asian countries experiencing explosive population growth.
• D) They are the four countries known for the highest levels of bribery in business and government.
• E) They are experiencing significant levels of economic growth.

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Definitions:

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on free market economics and the 'invisible hand' concept.

Self-sufficiency

The ability of an individual, household, or country to meet all their needs without external assistance or international trade.

Economic Endeavors

Various activities or efforts aimed at the production, purchase, or sale of goods and services in an economy.

Trade Deficits

A scenario where the value of a nation's imports surpasses the value of its exports within a specified period, indicating a net outflow of domestic currency to foreign entities.