Exam 9: Economic Development and the Americas

Newly industrialized countries (NICs) are characterized by markets free from restrictive trade practices and the presence of significant free market reforms.

_____ classifies a country's stage of economic development on the basis of its level of industrialization into three categories and the three categories are MIDCs, LDCs, and LLDCs.

Which of the following is NOT a factor that has contributed to the rapid economic growth of NICs (newly industrialized countries)?

More household money goes for _____ in emerging markets than in developed markets.

Identify the substage in the evolution of the marketing process when the only marketing functions performed are demand creation and physical distribution.

According to the UN classification, industrially developing countries just entering world trade with relatively low per capita incomes are referred to as more-developed countries.

What are the various marketing functions performed when the marketing process in a country is in the commercial-transition substage?

The trend toward privatization is currently a major economic phenomenon in industrialized as well as in developing countries.

Describe the three categories in which the United Nations classifies a country's stage of economic development on the basis of its level of industrialization.

The UN classification has been criticized because it no longer seems relevant in the rapidly industrializing world.

Mercosur is a free trade group formed by the United States of America.

The quality of an infrastructure directly affects a country's economic growth potential.