Export-oriented industrialized (EOI)countries often experienced __________ inward-oriented LDCs.
A) faster growth rates than
B) slower growth rates than
C) marginal growth rates than
D) about the same growth rates as

Question

Quizplus · Accepted Answer

EOI countries have a strategy of producing goods and services for export, which drives economic growth. This strategy involves integrating with global markets, competing with other countries, and adopting new technologies and practices to improve efficiency. In contrast, inward-oriented LDCs focus on domestic production and consumption, and tend to have limited trade and investment ties with other countries. This strategy can limit economic growth and development. Therefore, EOI countries are likely to experience faster growth rates than inward-oriented LDCs.

Export-Oriented Industrialized (EOI)countries Often Experienced __________ Inward-Oriented LDCs