Which of the following is true of the international trade approach to development?
A) A country can develop by concentrating scarce resources on expansion of its distinctive local industries
B) Belonging to international organizations is the overriding principle for the country
C) Good governance is considered the principal mode of operation
D) Businesses pay no taxes so they can export to bring in foreign exchange
E) Businesses are not allowed to locate in some areas, in order to allow those areas to allow those areas to provide labor for industries

Question

Quizplus · Accepted Answer

The international trade approach to development emphasizes a concentration of resources on expanding local industries that can compete in international markets. This approach is based on the idea that a country can achieve economic growth and development by specializing in certain industries and then exporting those goods to other nations. This strategy requires investing in infrastructure, education, and technology to enhance the competitiveness of the country's local industries. Other choices, such as belonging to international organizations or not allowing businesses to locate in certain areas, are not specific to the international trade approach to development.

Which of the Following Is True of the International Trade