The Main Reason South Korea Has Grown So Rapidly Is

question 154

Multiple Choice

The main reason South Korea has grown so rapidly is that, because it was so poor:

• A) it could take advantage of international financial aid for poor countries.
• B) people left to go to more prosperous countries.
• C) it could skip forward, or leapfrog, to use new-generation technology as it developed.
• D) it could import highly trained engineers from other countries.

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Definitions:

Isoquants

Curves that represent combinations of inputs that yield the same output, used in the analysis of production technology.

Output Level

The total product units produced within a given time frame in a production process or economic system.

Origin

The point or place where something begins, arises, or is derived.

Isoquants

Isoquants are curves that represent combinations of different inputs that yield the same level of output, used in production theory to analyze input choices.