The Market-Friendly Approach to Development Emphasizes

question 8

Multiple Choice

The market-friendly approach to development emphasizes

• A)self-interested behavior of public officials in LDCs.
• B)the dependence of LDCs on former colonial powers.
• C)the inherent efficiency of markets in developing countries.
• D) that markets in LDCs fail sometimes and selective interventions can promote economic development.

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Definitions:

Supplies

Items used in the operation of a business, not directly tied to the product being sold but necessary for its production or administration.

Flexible Budget

A budget that adjusts or varies with changes in the volume of activity, revenue, or other factors influencing budgetary needs.

Refurbishment

The process of cleaning, decorating, and re-equipping to make something look new or to bring it back to excellent condition.

Budgeting

The process of creating a plan to spend your resources, outlining an organization's financial and operational goals.