Apply What You Have Learned About Development and Development Theories

question 8

Essay

Apply what you have learned about development and development theories so speculate on the following thought experiment: What if anything might be different about today's international economic order if the Spanish had colonized North America and the English had colonized South America?

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Definitions:

Purchase Discounts Taken

Reductions in the purchase price of goods or services, realized for paying early or within a specified period.

Credit Terms

The conditions under which credit will be extended to a customer, including the repayment time frame and any interest or fees that apply.

Periodic System

An inventory valuation method where physical inventory counts are done periodically to determine the cost of goods sold and the ending inventory level.