Industrial and Economic Development

Front

GDP refers to

Back

Gross Domestic Product, the total value of outputs of goods and services produced in a country during a year

Front

Why do developing nations struggle to secure financing?

Back

they're unable to repay loans they've taken out in the past

Front

What image represents a cottage industry?

Back

Front

Which of the following is a fixed factor, meaning it does not change as the levels of production changes?
Options: land on which the factory is established, labor, costs, raw materials

Back

land on which the factory is established

Front

OPEC was created to-

Back

control oil production, profits and pricing

Front

Why are maquiladora agglomerated along the border of Mexico and U.S.?

Back

to be closer to the U.S. markets

Front

What is the primary purpose of the World Trade Organization (WTO)?

Back

To regulate global trade

Front

What is the main reason for the existence of the International Monetary Fund (IMF)?

Back

To provide loans to developing countries

Front

What is the primary purpose of tariffs in international trade?

Back

To protect domestic industries

Front

What is the main purpose of the World Bank?

Back

To provide loans to developing countries