The Market-Friendly Approach to Development Emphasizes

question 21

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:

Collude

An agreement, usually secret, between two or more parties to limit competition and manipulate market prices or conditions.

Cable TV Market

A sector of the television broadcasting industry that provides television services to consumers via coaxial or fiber-optic cables.

Advertise

The act of promoting products or services to potential customers through various media channels.

Dominant Strategy

In the context of game theory, a strategy that remains superior for a player in any game, no matter what strategies are selected by the opposing players.