Which Industrialization Policy Used by Developing Countries Places Emphasis on the Comparative

question 21

Multiple Choice

Which industrialization policy used by developing countries places emphasis on the comparative advantage principle as a guide to resource allocation?

• A) export promotion
• B) import substitution
• C) international commodity agreements
• D) Infant Industry promotion
• E) intra-industry trade practice

Calculate break-even points in sales dollars for different divisions and the company as a whole.

Analyze and decide on product or division performance to optimize profitability.

Differentiate between variable costing and absorption costing in terms of period costs, unit product costs, and net operating income.

Calculate unit product costs under both variable costing and absorption costing methods.

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Definitions:

Malthus

Thomas Robert Malthus, an 18th-century British economist and demographer best known for his theory that population growth will always tend to outstrip the food supply.

Famine

A severe shortage of food resulting in widespread hunger and starvation, often caused by natural disasters, war, or agricultural failure.

Cyclical Theories

Theories that suggest phenomena or events occur in repetitive cycles or patterns, often applied in economics, history, and sociology.

Birthrate

The number of babies born each year for every 1000 members of the population.