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Practice mode Characteristics and Institutions of Developing Countries

What are dual economies?

Correct answer C. With a modern manufacturing sector as well as a traditional agricultural sector

Explanation

Dual economies combine a modern, capital-using manufacturing sector with a traditional agricultural sector, a structure central to W. Arthur Lewis's model of development.

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Question 04 Characteristics and Institutions of Developing Countries

What are export primary commodity concentration ratios?

Correct answer A. Food, raw materials, minerals and organic oils and fats as a percentage of total merchandise exports

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