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Economic Development: Chapter 1 Part I-Questions and Answers Graded A+
- Exam (elaborations) • 227 pages • 2024
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Economic Development: Chapter 1 Part I-Questions and Answers Graded A+ 
 
Absolute Poverty - ANSWER-a situation of being unable to meet the minimum levels of income, food, clothing, health care, shelter, and other essentials 
 
Subsistence Economy - ANSWER-an economy in which production is mainly for personal consumption and the standard of living yields little more than basic necessities of life (food, shelter, and clothing) 
 
Development - ANSWER-the process of improving the quality of all hu...
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Economic Development Questions With Complete Solutions.
- Exam (elaborations) • 2 pages • 2022
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A country with a ________ economy generally has a high standard of living. 
a. developing 
b. developed 
c. emerging 
d. transitioning 
b. developed 
 
 
 
What characterizes developing economies? Check all that apply. 
a. a growing industrial economy 
b. a low level of reliance on natural resources 
c. a drop in the standard of living 
d. a focus on agricultural activity 
e. a shrinking middle class 
a. a growing industrial economy 
d. a focus on agricultural activity 
 
 
 
Aging populations c...
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