A. abundant mineral resources
B. imported cheap labor from Japan
C. Profits from agricultural surpluses
D. favorable location on international trade routes
Related Mcqs:
- Group of Singapore, Hong, Kong, Taiwan, and south Korea is called?
A. Four Dragons
B. Little Tigers
C. Four Tigers
D. All of these - How is termed the group which consists of Singapore, Hong kong, Taiwan, and south Korea ?
A. Four Dragons
B. Little Tigers
C. Four Tigers
D. All of these - Hong Kong and South Korea are examples of developing nations that have recently pursued ________ industrialization policies?
A. import substitution
B. export promotion
C. commercial dumping
D. multilateral contract - If Hong Kong and Taiwan have identical production possibilities curves that are subject to increasing opportunity costs ?
A. Trade would depend on difference in demand conditions
B. Trade would depend on economies of large-scale production
C. Trade would depend on the use of different currencies
D. There would be no basis for gainful trade - The comparative advantage comes if each trading partners has a product that will bring a better price in another country than it will at home. Which economist proposed the principle of comparative advantage ?
A. Adam Smith
B. David Ricardo
C. David Smith
D. Adam Ricardo - The major advantage of survey research is its ?
A. simplicity
B. structure
C. organization
D. flexibility - Which condition is a major obstacle to economic development in the Middle East and Northern Africa ?
A. use of strip mining to obtain minerals
B. reliance on capitalist economic systems
C. lack of access to world markets
D. scarcity of water resources - In recent years, which factor has been major reason for the economic tensions between the United States and China ?
A. China’s trade deficit with the United States was very high
B. The United States refused to place quotas on Chinese goods
C. The United States imported more from China than it exported to China
D. China lowered tariffs on goods imported from the United States - Statement A: The might of a country consists of gaining surpluses of gold and silver Statement B: A nation’s strength is found in economic independence and the maintenance of a favorable balance of trade Statement C: We need to gain colonies both as sources for raw materials and as markets for our manufactured of goods Which economic system is being described by these statements ?
A. traditional
B. feudal
C. command
D. mercantile - Which of the following could not be considered a major economic system ?
A. capitalism
B. physical quality of life index
C. socialism
D. communism
E. None of the above
